Tron has asked a federal judge in New York to dismiss a class-action lawsuit alleging breaches of securities through the 2017 Tron ICO, describing the allegations as flawed Mortally.
The Chinese blockchain development company filed a request for the refusal the day before Tuesday, asserting that the case has nothing to do with New York.
The foundation also confirmed that the lead plaintiffs were not involved in the ICO, and that they filed the lawsuit nearly two years after the process was completed: despite not purchasing during IPO, or From Tron, Attorneys are attempting to form a link between their purchases and the marketing activities alleged by TRON.
Tron also argued that the complaint does not claim that US-based investors participated in the ICO.
The proposal also notes that the three main plaintiffs purchased their TRX tokens through the secondary exchange, Binance, stressing that the lawsuit should be dropped because it is appealing to securities laws that Does not apply to secondary market purchases.
Tron also argued that the plaintiffs' decision to purchase TRX years after the initial digital currency offering through a secondary exchange had nothing to do with TRON.
The defendants also rejected allegations that the 2017 TRON issue report was misleading by describing TRX tokens as not including securities, saying: This claim was not filed Even in the original complaint, it is only an afterthought litigation.
The lawsuit was filed on April 3, the same day that 10 other lawsuits were filed in the Southern District of New York against cryptocurrency exchanges and their issuers, all of which alleged a handout Unregistered financial.
Tron conducted the ICO from August 24, 2017 until September 2, 2017, raising $ 70 million for TRX tokens, which it described as the original currency of its online platform.
