Coinspeaker
US SEC Files Motion for Summary Judgment in Do Kwon Case
The United States Securities and Exchange Commission (SEC) is not backing down in its pursuit of justice regarding Terraform Labs’ alleged violations. Despite a jury’s conclusion that appeared to show leniency towards Do Kwon, the SEC has made a bold move by demanding a summary judgment on all the claims.
A Jury’s Controversial Verdict
A recent court filing unveiled the SEC’s reluctance to accept the jury’s verdict. The jury’s decision seemed to absolve Do Kwon of his involvement in facilitating the frauds that led to the eventual collapse of Terraform Labs.
In a direct challenge to the jury’s decision, the SEC’s filing, directed to the US District Court for the Southern District of New York, stated:
“No rational jury could conclude that Kwon was not liable for Terraform’s violations of Exchange Act Section 10(b) and Rule 10b-5 thereunder pursuant to Exchange Act Section 20(a).”
The SEC’s case
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