Tron Scores Major Victory in Legal Battle Against SEC as It Seeks ATH!
A New York judge has denied the SEC’s request to file a supplemental response document in its lawsuit against the Tron Foundation and its founder Justin Sun.
A New York judge has struck down a legal tactic by the U.S. Securities and Exchange Commission (SEC) in its lawsuit against the Tron Foundation and its founder Justin Sun. The legal battle between the two parties is ongoing in the Federal Court for the Southern District of New York.
The SEC argued in a letter filed with the court on August 12 that the defense had attempted to include the argument that the sales of TRX and BTT did not meet the “joint venture” criteria of the Howey Test in the legal process after filing their motion to dismiss the case on May 30. The Howey Test is a method used to determine whether a transaction qualifies as an investment contract.
Tron’s lawyers responded to the SEC’s claims by sending a letter to New York Southern District Federal Court Judge Edgardo Ramos, accusing the SEC of “attempting to create a controversy” and asking the court to reject the SEC’s request for a pretrial conference.
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