Terra v. SEC: Pretrial Deadline Due to Do-Kwon Kwon’s Extradition to the United States

In the ongoing legal battle between Terraform Labs and the U.S. Securities and Exchange Commission (SEC), the court has taken an important step by setting pre-trial deadlines and procedures. This development coincides with the news that Mr. Dokwon was extradited from Montenegro to the United States.

Setting a Pretrial Deadline: A Critical Step

The court, presided over by Judge Jed S. Rakoff, recently approved an order outlining pretrial deadlines and procedures. As part of the order, the SEC and Terra attorneys agreed to postpone the trial until March 25. The postponement gives the parties ample time to complete all necessary preparations by March 11, including opposition to the motion, depositions, and designation of opposition. .

The court also ordered the SEC and Terra to file a proposed consent order by March 18. Additionally, as directed by the judge, both parties must file their proposed jury charges with the court by the same date. All requirements must be met at least 48 hours prior to the pretrial deadline.

Possibility of the governor’s appearance in court

India from Terra Co-Founder Gwondo In the United States, legal procedures have become more complicated. The timing of Mr. Kwon’s entry into the United States is still uncertain, but he is expected to appear for trial on the scheduled trial date.

Mr. Kwon’s journey Sanctions against the U.S. legal system began in March 2023 when he was detained in Montenegro and later sentenced to four months in prison. Extradition proceedings took place during his detention. In particular, while Han Chang-jun, former CFO of Terra, was extradited to Korea, Mr. Kwon successfully appealed his extradition due to legal ambiguity surrounding the ruling.

Background: SEC Ruling on LUNA and MIR Tokens

It is important to remember that the U.S. District Court for the Southern District of New York previously ruled in favor of the SEC, classifying LUNA and MIR tokens as securities. This classification will have significant implications for the ongoing legal dispute between Terraform Labs and the SEC, shaping the trajectory of the case as it unfolds.

Key Takeaways:

• Legal Action: The court’s setting of a pretrial deadline highlights the seriousness of the legal battle between Terra and the SEC, and represents a critical step in the process.
• Do-Kwon’s Extradition: Do-Kwon’s extradition to the United States increases his potential involvement in the court proceedings, adding a new dimension to the case and potentially influencing the outcome.