U.S. Courthouse, Eastern District of New York in Brooklyn, New York. (Photo: Ajay Suresh/Wikicommons) SEC, Richard Heart Clash in Dueling Motions Over $1 Billion Unregistered Securities Litigation
"This case will go down in history as one of those cases that nobody saw coming, and it is very important," said Ishmael Green, a partner at Diaz, Reus & Targ who is not involved in the matter.
August 23, 2024 at 03:55 PM
4 minute read
Cryptocurrency
What You Need to Know
- The U.S. Securities and Exchange Commission sued Richard Heart over the offer and sale of over $1 billion in unregistered securities.
- Both sides filed dueling motions on Thursday spanning over 140 pages.
- An uninvolved expert noted the implications of the litigation on the industry at large.
The U.S. Securities and Exchange Commission and the litigators for an embattled cryptocurrency founder escalated their clash this week over a $1 billion unregistered securities lawsuit before a federal district court in Brooklyn.
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