Tron (TRX) attempts to dismiss its unregistered securities lawsuit on jurisdiction and other technicalities.
- On Dec. 15, China's Tron Foundation and its founder Justin Sun filed a motion to dismiss a U.S. lawsuit alleging that the company misled investors during its 2017 initial coin offering (ICO) of its eponymous cryptocurrency, Tron (TRX).
- Plaintiffs Corey Hardin, a resident of Nevada; David Muhammad, and Chase Williams, who live in Texas; originally filed the class-action suit in April in the U.S. District Court Southern District of New York.
- Tron and Sun asked the court judge to dismiss the suit because the three lead plaintiffs did not buy the tokens during the 2017 ICO directly from Tron, and filed the court papers two years later.
- The suit also names Tron's ex-chief technology officer (CTO), Lucien Chen.
- We previously covered the Verge's exposé of Tron and BitTorrent CEO Justin Sun here.