Judge rejects motion to dismiss Terraform case, disagrees with Ripple decision By Cointelegraph

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A United States Securities and Exchange Commission (SEC) lawsuit against Terraform Labs is set to go ahead after a U.S. judge overseeing the case denied the firm’s motion to dismiss on July 31.

In handing down the order, the judge also rejected a decision from another judge who ruled that did not violate securities laws based on their manner of sale.

Judge Rakoff denies Terraform Labs’ motion to dismiss. Source: Courtlistener