SEC, Justin Sun, and Tron jointly apply for suspension of litigation to explore settlement possibilities

PANews reported on February 27 that U.S. court documents showed that the SEC, Justin Sun, Tron Foundation, BitTorrent Foundation and Rainberry jointly filed a motion with the Federal Court for the Southern District of New York, requesting a suspension of the SEC's fraud lawsuit against Sun and Tron to consider "potential solutions."

The document states that the suspension of the lawsuit is in the interests of all parties and will not cause damage to any party or the public. It can also avoid the court ruling on Tron's motion to dismiss the lawsuit and save judicial resources. If the judge approves, the case will be suspended for 60 days, during which both parties will need to submit a joint status report.

The SEC sued Sun and his affiliates in 2023, alleging market manipulation, fraud, and the issuance of unregistered securities. The filing is similar to the SEC's approach in the Coinbase and Binance cases, and may indicate that the two sides are approaching a settlement.

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Author: PA一线

This content is for informational purposes only and does not constitute investment advice.

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