Justin Sun and his associated companies are “not challenging the ‘common enterprise’ element of the Howey test,” ruled the New York District Judge.
A New York District Judge has just dealt the Securities and Exchange Commission (SEC) a setback in its case against Tron founder Justin Sun, as the founder works to dismiss the case against him.
On Aug. 19, United States District Court Judge Edgardo Ramos denied the SEC’s attempt at hampering one of Sun’s main arguments he has been using to have the case against him dismissed.
The recent order stems from a long-running suit from the SEC against Sun and the Tron Foundation in March 2023, alleging that Sun and his companies engaged in the “orchestration of the unregistered offer and sale, manipulative trading, and unlawful touting of crypto asset securities” with regard to Tron (TRX) and BitTorrent (BTT) tokens.
