SEC seeks summary judgment in Do Kwon and Terraform Labs case

The United States Securities and Exchange Commission (SEC) has refuted the jury’s conclusion regarding Terraform Labs’ alleged violations and has demanded a summary judgment on all the claims. 

A court filing from Oct. 27 showed the SEC’s reluctance to accept the jury’s leniency on Do Kwon and his involvement in facilitating the frauds that eventually led to the collapse of Terraform Labs. The filing, directed to the U.S. district court – Southern District of New York, read:

“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 “evidence” of…

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