Terraform Labs is seeking to dismiss a class action lawsuit brought against the company by U.S. investor Nick Patterson and others, arguing that the cited U.S. securities laws do not apply to its foreign-developed agreements. The lawsuit alleged that Terraform Labs sold unregistered securities and misled investors.
According to Terraform, the same argument applies to the RICO (Racketeer-Influenced and Corrupt Organization) allegations in the lawsuit, which allege the company's goal is to extract profits at the expense of retail investors.
According to Terraform, the same argument applies to the RICO (Racketeer-Influenced and Corrupt Organization) allegations in the lawsuit, which allege the company's goal is to extract profits at the expense of retail investors.