Terraform Labs and the United States Securities and Exchange Commission (SEC) have agreed on a protective order in their ongoing civil case. U.S. District Court Judge Jed Rakoff, presiding over the case in the Southern District of New York, sanctioned this agreement on December 20. This order mandates that most materials labeled as confidential by the parties involved will not be disclosed publicly. Additionally, the court must seal any discovery filings marked confidential before the trial.
Judge Rakoff has expressed that it is “unlikely” he would grant any requests to unseal these documents. However, the order did not elaborate on the specific rationale behind the confidential status, aside from finding “good cause.” The agreement on this protective order was finalized on December 18, with the legal representatives of both the SEC and Terraform Labs, including its co-founder Do Kwon, giving their consent. Currently, Kwon is detained in Montenegro, facing potential extradition
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