In a new development within the Do Kwon case, the U.S. Securities and Exchange Commission (SEC) has stepped forward, seeking a decisive court ruling. The SEC is pushing for a summary judgment to resolve the claims against Terraform Labs without a full trial.
The agency’s latest legal motion, dated October 27, challenges a prior jury’s findings. It suggests that the jury was too lenient with Do Kwon, whose actions are linked to the downfall of the Terra digital currency project. The SEC’s documents, submitted to the Southern District Court of New York, underscore their intent to hold Kwon and Terraform Labs accountable for the alleged misconduct leading to the collapse of the Terra ecosystem. (source)