SNEAK PEEK
- The SEC motion claimed that LBRY is security and could not be traded on exchanges in 2018.
- After this long-running dispute, the SEC has obtained a judgement against LBRY.
- LBRY filed a motion to limit remedies as a result of the court granting the SEC’s motion.
In August 2018, the SEC (The Securities and Exchange Commission) filed a claim that LBRY is a security and could not be traded on exchanges. The SEC was seeking a preliminary injunction to stop LBRY from using digital tokens as a form of payment for digital content.
#XRPCommunity #SECGov v. #Ripple #XRP #LBRY In the LBRY case, LBRY has filed a motion to limit the remedies the SEC can seek against LBRY as a result of the Court granting the SEC’s Motion for Summary Judgment.https://t.co/imCB1SxWQo
— James K. Filan 🇺🇸🇮🇪 126k (beware of imposters) (@FilanLaw) December 8, 2022
LBRY argued that the SEC’s complaint is vague and ambiguous and that the SEC should not be allowed to “enforce its vague and ambiguous complaint through vague and ambiguous remedies.” LBRY also argued that the SEC’s motion for a protective order should be denied as the SEC does not have a strong legal argument for why it would be granted.
Also Read: James K. Filan shares thoughts on Hinman Documents
After a long-running dispute between the LBRY team and the SEC, the SEC has obtained a judgment against the company to have LBRY’s assets frozen. LBRY has filed a motion to limit the remedies granted to the SEC. The SEC has filed a response to the motion, and LBRY has filed a reply.
LBRY filed a motion to limit remedies as a result of the court granting the SEC’s motion for a protective order.
The company filed a motion against the US Securities and Exchange Commission (SEC) for a ruling that the SEC’s motion was granted and the SEC is entitled to all relief it sought in the case. LBRY filed the motion in order to stop the SEC from being able to recover the company’s assets.
