Another class action lawsuit has been filed against TerraForm Labs, its founder Do Kwon, head of research Nicholas Platias, and affiliated firms that duped billions from investors. Bragar Eagel & Squire PC has filed a class action lawsuit alleging the defendants for violating the Exchange Act, the Securities Act, the Racketeer Influenced and Corrupt Organizations Act (RICO), and provisions of the California Common Law.
Class Action Lawsuits Against Do Kwon and TerraForm Labs
Three class action lawsuits have now been filed against TerraForm Labs, Do Kwon, and Nicholas Platias in the U.S. District Court for the Northern District of California, with a plaintiff joining deadline of August 19.
Bragar Eagel & Squire PC in a press release on July 25 announced filing a class action lawsuit against TerraForm Labs, founder Do Kwon, and Nicholas Platias. Along with, affiliates including Jump Crypto, Jump Trading, Republic Capital, Republic Maximal, Tribe Capital, DFinance Capital, DFinance Technologies, GSR/GSR Markets, and Three Arrows Capital (3AC).
The class action has been filed on behalf of all investors, including individuals and companies, who purchased or acquired Terra tokens between May 20, 2021 and May 25, 2022. The tokens include TerraUSD (UST) and Terra (LUNA), along with KRT, ANC, WHALE, ASTRO, APPOLO, XDEFI, MINE, aUST, vUST, MIR.
Moreover, Mirrored Assets such as mBTC, mETH, mVIXY, mTSLA; and Liquidity Pool tokens such as UST-mVIXY-LP, bLUNA-LUNA-LP, XDEFI-UST-LP; and Bonded Assets such as bLUNA and bETH) are also included.
