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The implosion of UST and LUNA vaporized tens of billions of dollars in value. Do Kwon, the "heartbroken" co-creator of Terra, headlines a raft of defendants named in a class-action suit filed Friday in U.S. District Court in Northern California.
Kwon is joined by a group that includes Terraform Labs, Jump Crypto, and Three Arrows Capital. Plaintiff Nick Patterson is alleging, among other accusations, that Terra tokens were sold as "unregistered securities," and that the "Defendants made a
series of false and misleading statements regarding the largest Terra ecosystem digital assets by market cap, UST and LUNA, in order to induce investors into purchasing these digital assets at inflated rates.
Kwon is joined by a group that includes Terraform Labs, Jump Crypto, and Three Arrows Capital. Plaintiff Nick Patterson is alleging, among other accusations, that Terra tokens were sold as "unregistered securities," and that the "Defendants made a
series of false and misleading statements regarding the largest Terra ecosystem digital assets by market cap, UST and LUNA, in order to induce investors into purchasing these digital assets at inflated rates.
