Terraform Labs (LUNA) and Co-Founder Do Kwon Settle with SEC, Paving Way for Regulatory Compliance
Terraform Labs and co-founder Do Kwon have reached a settlement with the SEC regarding a fraud case, marking a significant development in the ongoing legal battles surrounding the collapse of TerraUSD and LUNA.
Settlement Details and Financial Implications....
The settlement was disclosed during a court session on May 29, conducted via telephone without transcription or recording. The parties are required to submit the necessary settlement documents to Judge Jed S. Rakoff by June 12. The SEC had initially requested that Kwon and Terraform pay $4.7 billion in disgorgement and interest for their involvement in the Terra-Luna collapse of 2022. Additionally, the SEC is seeking civil penalties of $420 million for Terraform and $100 million for Kwon.
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