The U.S. Securities and Exchange Commission (SEC) has asked the court for summary judgment against Terra (LUNA) founder Do Kwon and Terraform.
The SEC filed a motion for summary judgment with the court for its lawsuit against Do Kwon and Terraform Labs. The regulatory body stated that the defendant parties engaged in the sale of securities without adequately informing the customers. to the final conclusion He wanted it to be reached.
A similar request was made by Do Kwon and Terraform a few days before the front had arrived. Defendants are in the middle criminal and the SEC’s allegations There’s nothing to prove They requested summary judgment in their favor.
more on both sides a large-scale litigation process Their attempt to take a preliminary decision before starting was a noteworthy point.
But in its latest SEC filing, Howey Test in the scope of LUNA clearly of sales securities rules He emphasized that he had violated it. The SEC also alleged that Terraform and Kwon acted in ways that deceived their customers.
Terra suffered a serious collapse in May last year, damaging the cryptocurrency market and destroying billions of dollars of investor wealth.