Jane Street asks US court to toss Terraform’s insider trading suit
Cointelegraph
Jane Street has filed a motion to dismiss a lawsuit from Terraform Labs alleging the firm engaged in insider trading during the Terra collapse.Summary
Trading firm Jane Street is seeking the dismissal of a lawsuit filed by Terraform Labs' bankruptcy administrator. Terraform claims that Jane Street utilized nonpublic information to trade Terra tokens, exacerbating the 2022 collapse of the Terra ecosystem. However, Jane Street argues that the lawsuit is a baseless attempt to shift blame for a fraud already adjudicated against Terraform founder Do Kwon. The firm maintains its trading decisions were based on public market signals and asserts that Terraform has failed to identify any specific material nonpublic information or actual back-channel communications.
(Source：Cointelegraph)