Singapore rejects Do Kwon, Terraform Labs case dismissal | Protos
Attempts from Terraform Labs and its founder Do Kwon to avoid a class-action lawsuit have been dashed after the Singapore High Court rejected their attempts to dismiss the case this week. As reported by the Business Times, the lawsuit was filed in September 2022, by Julian Moreno Beltran and Douglas Ganon on behalf of 375 other investors. It claimed Terraform, Luna Foundation Guard, and its co-founders Do Kwon and Nikolaos Alexandros Platias, fraudulently misrepresented its enterprise causing losses of $57 million. However, Do Kwon ’s appeals against the lawsuit have been rejected by the Singaporean High Court on Thursday, opening up the doors for a lawsuit. Do Kwon initially claimed that the lawsuit should be settled out of court using arbitration and referred to a clause within its website that waivered user rights to a trial or lawsuit. Do Kwon granted extradition, but to US or South Korea? Read more: Do Kwon granted extradition, but to US or South Korea? Ho...