Description
Class action suit against Terraform Labs, CEO Do Kwon, and multiple other entities and individuals (see Terra (Luna) Class Action). The plaintiffs have amended their complaint to voluntarily drop claims against all defendants except Jump Trading.
Legal Significance
Plaintiff’s purchase of Terraform Labs stablecoins were securities in the form of investment contracts because the coin was tied to anchor.
Status
Appeal
Case No.
5:22-cv-03600
Date Filed
September 8, 2023
Plaintiff
Nick Patterson
Defendant
Jump Trading LLC
Court
USDC Northern District of California San Jose Division
Plaintiff Counsel
The Rosen Law FirmScott+Scott Attorneys at Law LLP
Defendant Counsel
Dentons US LLPKobre & Kim LLPPolsinelli LLP
Major Filings
Motion to Dismiss Second Amended Complaint and to Compel Arbitration by TerraForm Labs and Kwon
May 8, 2023
Omnibus Opposition to TerraForm and Kwon’s Motion to Dismiss Second Amended Complaint and to Compel Arbitration
July 7, 2023
Reply in Support of Terraform and Kwon’s Motion to Dismiss Second Amended Complaint and to Compel Arbitration
August 2, 2023
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