Court Rules In Favor Of US SEC In Daubert Hearing In Terra And Do Kwon Suit

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Court Rules In Favor Of US SEC In Daubert Hearing In Terra And Do Kwon Suit – Crypto News

Published

2 years ago

November 21, 2023

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The court has announced an order on expert witnesses in the U.S. Securities and Exchange Commission (SEC) lawsuit against Terraform Labs and former CEO Do Kwon. The court held Daubert hearing giving parties to examine the challenged expert in open court to set expert witnesses’ testimony to evaluate admissibility.

Judge Announces Order Regarding Daubert Hearing In Terra Vs SEC

According to the court filing late November 20, Judge Rakoff has announced an order on the Daubert hearing in the Terra vs SEC lawsuit.

After considering the parties’ full briefing and the arguments and answers presented at the hearing, the judge ruled as follows:

(1) Denied the defendants’ request to exclude SEC expert witnesses Dr. Bruce Mizrach and Dr. Matthew Edman.

(2) Denied the plaintiff SEC’s request to exclude the testimony of Dr. Terrence Hendershott

(3) Grants the SEC’s motion to exclude the testimony of Raj Unny and Dr. Christine Parlour

The court will release a statement explaining the reasons for these rulings. The court said the ruling was made after full briefing and Daubert hearing.

The case moves forward for summary judgment as the SEC’s two experts and Terra’s one expert will testify in the lawsuit. Judge Rakoff had earlier denied agreement with Judge Torres’ ruling in the Ripple lawsuit.

Also Read: Founder Jesse Powell Open Up About US SEC Lawsuit Against Kraken

Terra Ecosystem Tokens Respite

Terra (LUNA) and Terra Classic (LUNC) prices jumped massively in the last few days. In the last 24 hours, LUNA dumped 4% and LUNC also fell 3%. Investors remain cautious of investing in Terra ecosystem tokens amid the fall in prices in the last few months.

USTC trades at $0.013, down 1% in the past 24 hours. The trading volumes for all Terra ecosystem tokens remain flat.

Meanwhile, Montenegro High Court has also denied the appeals of the Basic State Prosecutor’s Office and the defense attorneys of Do Kwon and Han Chang-joon against the verdict of the Basic Court as ‘unfounded’.

Also Read: Judge Signs Order Approving Arguments Of SEC’s Amici Against Binance