Terraform, Do Kwon Agree in Principle to Settle New York Fraud Case With SEC; LUNA Token Surges

Terraform Labs and co-founder Do Kwon have reached a “settlement in principle” with the U.S. Securities and Exchange Commission (SEC) over a civil case alleging fraud, according to a court filing Thursday.

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A listing for the District Court for the Southern District of New York refers to a May 29 telephone conference, “without transcription or recording.” Counsels for all the parties were present. The scheduled oral arguments were “cancelled because the parties have informed the Court that they reached a settlement in principle.” The parties must file documentation in support of the settlement in front of Judge Jed S. Rakoff by June 12.

Source: Terraform, Do Kwon Agree in Principle to Settle New York Fraud Case With SEC; LUNA Token Surges