U.S. District Judge Jed Rakoff of the Southern District of New York said he intends to rule on penalties no later than the first week of May, after receiving briefs from the defendants and the U.S. Securities and Exchange Commission.
April 05, 2024 at 03:54 PM
3 minute read
The original version of this story was published on New York Law Journal
Jurors in the Southern District of New York on Friday found the cryptocurrency company Terraform Labs and its founder Do Kwon liable on civil fraud charges after approximately two hours of deliberations.
The jury heard evidence for nearly two weeks before reaching its verdict in the trial, where Terraform was represented by Dentons and Kwon, who was not present because he is in Montenegro amid extradition proceedings, was represented by Kaplan Hecker & Fink.
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