In the latest tussle between the U.S. Securities and Exchange Commission (SEC) and Terraform Labs, the federal judge slammed both defendants and plaintiff’s attorneys for bringing irrelevant questions in the courtroom. Moreover, the judge offered initial instructions to the jury about key details in the fraud lawsuit.
Terra Vs SEC: Judge Submits Jury Instructions
As the lawsuit entered jury trial, Judge Rakoff provided the jury with a brief overview of the US SEC lawsuit against Terraform Labs and Do Kwon, as per the latest court filing. Both SEC and Terraform Labs (TFL) also had a final pretrial conference on the disputes between the parties.
In the preliminary jury instructions, Judge Rakoff highlighted major issues in the case. Also, the judge said more detailed instructions of law will replace this preliminary instruction after all evidence and closing arguments are presented by both parties.
The primary argument by the US SEC is that Terraform Labs and Do Kwon violated federal s
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