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SEC v. Terraform Labs: What the Government Is Accusing the Company and Its CEO, Do Kwon, Ofby@secagainsttheworld
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SEC v. Terraform Labs: What the Government Is Accusing the Company and Its CEO, Do Kwon, Of

by SEC vs. the WorldOctober 5th, 2023
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SEC v Terraform: The Table of Contents at your disposal. SEC v. Terraform Court Filing, retrieved on February 16, 2023, is part of HackerNoon’s Legal PDF Series.

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SEC v. Terraform Court Filing, retrieved on February 16, 2023, is part of HackerNoon’s Legal PDF Series. You can jump to any part in this filing here. This is the table of links with all parts.

Case Number: 1:23-cv-01346

Plaintiff: SEC

Defendant: Terraform

Filing Date: February 16, 2023

Location: United States District Court Southern District of New York

TABLE OF CONTENT

COMPLAINT - SUMMARY

VIOLATIONS

NATURE OF PROCEESINGS AND RELIEF SOUGHT

DEFENDANTS

JURISDICTION AND VENUE

STATUTORY AND LEGAL FRAMEWORK

BACKGROUND CRYPTO ASSETS


FACTS

I. Defendants Created and Devloped the Terraform Ecosystem

II. Terraform's Crypto Assets Were Offered and Sold as Securities


A. Luna

  1. Investment of Money
  2. Common Enterprise
  3. Reasonable Expectation of Profits from Defendants' Managerial Efforts


B. "Wrapped" LUNA

  1. Investment of Money

  2. Common Enterprise

  3. Reasonable Expectation of Profits from Defendants' Managerial Efforts

  4. wLuna is a Receipt for a Security


C. UST

  1. Investment of Money
  2. Common Enterprise
  3. Reasonable Expectation of Profits from Defendants' Managerial Efforts
  4. UST is a Security because it could be Exchanged for LUNA


D. MIR TOKENS

  1. Investment of Money
  2. Common Enterprise
  3. Reasonable Expectation of Profits from Defendants' Managerial Efforts


E. mAsset Transactions were Security-Based Swaps


III. Defendants offered and Sold Crypto Asset Securities in Unregistered Transaction

IV. Terraform and Kwon Misled, Deceived, and Defrauded Investors

a. Terraform and Kwon Deceived Investors about Chai

b. Terraform and Kwon Mislead Investors about the May 2021 De-peg

c. May 2022 Collapse of the Terraform Ecosystem


FIRST CLAIM FOR RELIEF

SECOND CLAIM FOR RELIEF

THIRD CLAIM FOR RELIEF

FOURTH FOR RELIEF

FIFTH CLAIM FOR RELIEF

SIXTH CLAIM FOR RELIEF


PRAYER FOR RELIEF

JURY DEMAND


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This court case 1:23-cv-01346 retrieved on September 12, 2023, from sec.gov is part of the public domain. The court-created documents are works of the federal government, and under copyright law, are automatically placed in the public domain and may be shared without legal restriction.