In the latest development in the U.S. Securities and Exchange Commission (SEC) lawsuit against Terraform Labs and co-founder Do Kwon, the court has announced dates for summary judgment-related proceedings. Meanwhile, the SEC and Terraform Labs have submitted individual motions for summary judgment in their favor.
Terra Seeks To Dismiss the SEC Lawsuit
According to a court filing on a minute entry for proceedings held before Judge Jed S. Rakoff, the court is moving ahead with summary judgment proceedings and key hearings to happen this week.
The Court may extend the deadline for summary judgment replies to Monday, November 20 if Judge Jed S. Rakoff makes any rulings at Friday’s Daubert hearing. A Daubert hearing enables both parties to examine the challenged expert in open court to set his or her testimony to evaluate its admissibility.
The SEC argued that Terraform Labs and Do Kwon created the Terra blockchain and related crypto asset securities, marketed crypto assets such LUNA (now
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