Key Takeaways
The U.S. Securities and Trade Fee (SEC) has filed a movement in opposition to Terraform Labs PTE LTD. and Do Hyeong Kwon.
The SEC is searching for permission to note Do Hyeong Kwon’s deposition or, alternatively, to preclude the defendants from utilizing a declaration from Kwon in abstract judgment.
The defendants’ response is due on September 26, 2023, at 12:00 pm.
Introduction
In a current authorized growth, the U.S. Securities and Trade Fee (“SEC”) has filed a movement in the USA District Court docket for the Southern District of New York. The movement is in opposition to Terraform Labs PTE LTD. and its related particular person, Do Hyeong Kwon. The case quantity is 1:23-cv-1346 (JSR), and the doc was filed on September 22, 2023.
The Movement Particulars
The SEC is respectfully requesting the court docket to grant them depart to note Do Hyeong Kwon’s deposition. In easier phrases, the SEC needs the court docket’s permission to formally request a deposition from Kwon. Within the different, the SEC is asking the court docket to preclude the defendants from utilizing any declaration from Kwon of their abstract judgment.
Deadline for Defendants’ Response
In line with the court docket paperwork, the defendants’ response to the SEC’s movement is due on September 26, 2023, at 12:00 pm. Failure to reply by this deadline may have authorized implications for the defendants.
Authorized Representatives
The movement was submitted by Carina A. Cuellar, James P. Connor, Laura E. Meehan, Devon L. Staren, and Christopher J. Carney, who’re admitted professional hac vice. They’re representing the SEC on this case. The SEC’s workplace is situated at 100 F Avenue NE, Washington, DC 20549, and their contact quantity is (202) 551-6274.
Certificates of Service
Carina A. Cuellar licensed that the movement was filed via the Court docket’s CM/ECF system on September 22, 2023. This method will ship notifications of the submitting to all counsel of file.
Picture supply: Shutterstock
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