News - Class action lawsuit against Do Kwon withdrawn

By Sam Fröling

Class action lawsuit against Do Kwon withdrawn

Class action lawsuit, against Do Kwon withdrawn

A number of victims had accused Terra Luna founder Do Kwon of fraud. Now the lawyers have withdrawn the class action.

Lead plaintiffs Michael Tobias and Nick Patterson are withdrawing their class action lawsuit against Do Kwon and Terraform Labs. The exact reasons cannot be found in the court document. The lawyers merely point out that the defendants did not respond to the motions. The plaintiffs had accused Do Kwon of fraud.

Do Kwon in custody

Currently, the founder of the bankrupt coin Terra (LUNA) is in custody in Montenegro. Authorities there accuse him, among other things, of forgery. The US and South Korea are each demanding the extradition of the Terra boss. He is accused of billions in securities fraud.

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