Terraform Labs Allowed to Hire Law Firm Dentons in Bankruptcy Case by U.S. Court: Reuters
Dentons agreed to send $48 million back to Terraform after objections from Terraform’s creditors, the SEC, and the U.S. Justice Department.
Dentons agreed to send $48 million back to Terraform after objections from Terraform’s creditors, the SEC, and the U.S. Justice Department.
Additionally, the SEC has said that Terraform should not be allowed to hire law firm Dentons or hisse litigation costs for employees, the report said.
The agency contends last week’s court ruling that offerings from Terraform were securities should help make its case that the exchanges traded unregistered securities.
A federal judge issued summary judgements siding with the SEC’s arguments that Terraform had illegally sold unregistered crypto securities.
Citadel said the claims by Terraform was filed to “deflect attention” from its alleged charges.