Terraform Labs cites SEC’s alleged misrepresentations in DEBT box case in its own bid for summary judgment
Terraform Labs, a firm currently sued by the U.S. Securities and Exchange Commission (SEC) over allegations of unregistered securities sale, has requested a summary judgment on December 4, 2023, to end the case. The company's defense is citing a precedent from a separate SEC litigation concerning DEBT Box, pointing out that the SEC provided misrepresentations in that case. The Terraform case was instigated by the SEC in February 2023, alleging accusations of fraudulent fundraising and a project's consequent collapse. The recent request for summary judgment asserts similarities between DEBT Box's case, including SEC misrepresentations, and their own lawsuit. Concurrently, DEBT Box's case saw the SEC's failure to correct its misrepresentation criticized.
