US SEC Prevails in Daubert Hearing for Terra and Do Kwon Lawsuit

Terra Classic Do Kwon

Judge Rakoff has ruled in favor of the U.S. SEC in the Daubert hearing concerning the lawsuit involving Terra and Do Kwon.

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Court Orders on Expert Witnesses in SEC Lawsuit Against Terra and Do Kwon

The court has issued an order regarding expert witnesses in the U.S. Securities and Exchange Commission (SEC) lawsuit involving Terraform Labs and former CEO Do Kwon. The Daubert hearing allowed parties to scrutinize the challenged expert openly to assess the admissibility of their testimony.

As of late November 20, Judge Rakoff announced the order following the Daubert hearing in the Terra vs SEC lawsuit:

1. Denied defendants’ request to exclude SEC expert witnesses Dr. Bruce Mizrach and Dr. Matthew Edman.
2. Denied SEC’s request to exclude the testimony of Dr. Terrence Hendershott.
3. Granted SEC’s motion to exclude the testimony of Raj Unny and Dr. Christine Parlour.

The court will provide a detailed statement explaining the rationale behind these rulings. Notably, the case progresses to summary judgment, with the testimony of SEC’s two experts and Terra’s one expert expected in the lawsuit. This comes after Judge Rakoff previously disagreed with Judge Torres’ ruling in the Ripple lawsuit.

Terra (LUNA) and Terra Classic (LUNC) Experience Significant Price Movements

In recent days, both Terra (LUNA) and Terra Classic (LUNC) have witnessed substantial price surges. However, in the last 24 hours, LUNA recorded a 4% decline, while LUNC also experienced a 3% fall. Investors are exercising caution in the Terra ecosystem token investments, given the recent downward trend in prices over the past few months.

USTC is currently trading at $0.013, reflecting a 1% decrease in the past 24 hours. Despite these price movements, the trading volumes for all Terra ecosystem tokens remain relatively stable.

In a related development, the Montenegro High Court has dismissed the appeals from the Basic State Prosecutor’s Office and defense attorneys of Do Kwon and Han Chang-joon, affirming the verdict of the Basic Court as ‘unfounded’.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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  • Asad

    Asad is a dynamic and talented cryptocurrency content author who brings a wealth of knowledge and enthusiasm to every article. With a deep understanding of blockchain technology and a passion for digital assets, Asad's writing is both informative and engaging.

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