EEvery day there are new updates around the collapse of Terra (LUNA) and Do Kwon. It was only yesterday, July 26, that shareholder rights law firm Bragar Eagel & Squire PC filed the latest class action lawsuit against TerraForm Laboratories founder Do Kwon, Three-spired capitaland connected businesses and individuals.
Now the latest development in the already running class action lawsuit is that the Terra firm’s representative, FatMan now comes forward to get involved in the class action lawsuit charged by U.S.-based law firm Scott+Scott.
Moreover, FatMan also claims that he is even filing a class action lawsuit against Terra and Do Kwon in another court.
FatMan To Be A Plaintiff In Class Action Lawsuit
Today, in a Twitter thread, FatMan affirmed that he will join hands with a lead plaintiff, Nick Patterson in the class action lawsuit named Patterson v. TerrForm Labs Pte Ltd. et al.
The first lawsuit was filed on June 17 by Scott+Scott Attorneys against TerraForm Labs founder Do Kwon, Three Arrow Capital, and related companies and individuals. The allegations claim that they violated the Exchange Act, the Securities Act, the Racketeer Influenced and Corrupt Organizations Act (RICO) and California common law provisions, as it involves the sale of unregistered securities like LUNA, UST and others, misleading investors, civil conspiracy.
Till today, there are 3 class action lawsuits filed against TerraForm Labs, Do Kwon, and others. The dispute was charged on behalf of individuals or firms who had purchased Terra tokens such as UST, LUNA, KRT, ASTRO, APPOLO, ANC, vUST, and Liquidity Pool tokens, among others, between May 20, 2021, and May 25, 2022.
According to reports, the last date to join as a plaintiff or plaintiff is August 19, 2022 or earlier.
Terra & Do Kwon Charged For Money Laundering
On the other hand, FatMan allegedly reports that Do Kwon has enacted fraud against a huge number of investors and companies as the Terra founder has committed money laundering through transferring funds to offshore addresses via shell companies. Shell companies are the companies that are inactive and exist only on paper.
Additionally, several other employees and representatives belonging to TerraForm Lab and numerous other affiliates have come forward to confirm the illegal activities.
