Terraform Labs and the US Securities and Exchange Commission will head to trial next month, with Jump Trading swept up in the mix, after a judge ruled that the SEC’s fraud case against Terraform must be tried by a jury.
US District Judge Jed S. Rakoff ruled in favor of the regulator Thursday, agreeing that Terraform is liable for selling unregistered securities, though he threw out allegations that it had made transactions in unregistered security-based swaps. The civil trial is set to begin on Jan. 29 in Manhattan federal court.
