Jump Trading Responds to Terraform's $4 Billion Lawsuit, Plaintiff Attempts to Shift SEC Fines and Creditor Liability

Techub News reported, according to DL News, market maker Jump Trading responded to the $4 billion lawsuit filed by the liquidator of Terraform Labs, stating that the plaintiff fabricated allegations in an attempt to shift Terraform's liabilities to the SEC and creditors onto the defendant. In its response filed on March 23, Jump Trading pointed out that the lawsuit lacks key details, fails to specify the specific actions of the named defendants and the location of the alleged violations, and is barred by the statute of limitations. Todd Snyder, responsible for the bankruptcy liquidation of Terraform Labs, sued Jump Trading, several of its subsidiaries, and two executives last December, accusing them of market manipulation, defrauding investors, self-dealing, and other misconduct, seeking $4 billion in damages.