Protective Order Issued in SEC Lawsuit against Terra and Do Kwon
In the ongoing lawsuit between the SEC and Terra, a protective order has been issued by Judge Jed Rakoff to ensure confidentiality during the pre-trial phase. This order applies to all parties involved, including representatives, agents, experts, and consultants. Any disclosure of confidential information will be considered contempt of court.
Confidentiality in Document Discovery
The protective order covers various confidential discovery materials such as financial information, company ownership, business plans, and software. All these materials must be filed under seal. The order will remain in effect even after the litigation ends.
Return or Destruction of Confidential Materials
All discovery materials designated as confidential must be returned or destroyed within 30 days of the final deposition. However, the SEC can retain certain documents for record-keeping purposes.
Court’s Discretion on Public Disclosure
The court has accepted sealed discovery documents from Jump Crypto but reserves the right to make any confidential information public during motion practice or trial.
Extradition Delay for Do Kwon
Do Kwon’s extradition to the US or South Korea has been delayed after a Montenegro appeals court overturned a high court’s decision. This news has led to a rise in Terra ecosystem tokens.
Hot Take: Protecting Confidentiality in the SEC Lawsuit against Terra and Do Kwon
The recent issuance of a protective order by Judge Jed Rakoff highlights the importance of maintaining confidentiality during the SEC lawsuit against Terra and Do Kwon. This order ensures that sensitive information remains undisclosed and protects all parties involved from potential contempt of court charges. It also emphasizes the need for returning or destroying confidential materials after the litigation concludes. While Do Kwon’s extradition is currently delayed, the court’s discretion on public disclosure serves as a reminder that confidential information may still be made public during the trial. Overall, this protective order safeguards the integrity of the legal proceedings and maintains the confidentiality of crucial discovery materials.
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