Jane Street asks court to dismiss Terraform Labs’ insider trading lawsuit
The Block
Jane Street has requested that a court dismiss a lawsuit by Terraform Labs, calling the insider trading allegations meritless and a shift of blame.Summary
Jane Street has filed a motion to dismiss a lawsuit brought by Terraform Labs, which accused the quantitative trading firm of contributing to the collapse of the UST/LUNA ecosystem. Jane Street argues that the lawsuit is a meritless attempt by the bankruptcy estate to deflect accountability for fraud already prosecuted and adjudicated, citing that founder Do Kwon has already been held responsible for the collapse. Furthermore, Jane Street maintains that the insider trading claims are unfounded, as their trades were based on publicly available information and Terraform failed to demonstrate any illegal activity or material non-public information usage.
(Source：The Block)