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    <p>Attempts from Terraform Labs and its founder <a rel="noopener noreferrer nofollow" title="Do Kwon" href="https://thebittimes.com/tag/do-kwon.html">Do Kwon</a> to avoid a class-action lawsuit have been dashed after the Singapore High Court rejected their attempts to <a rel="noopener noreferrer nofollow" title="dismiss" href="https://thebittimes.com/tag/dismiss.html">dismiss</a> the case this week.</p>
    <p>As reported by the Business Times, the lawsuit was filed in September 2022, by Julian Moreno Beltran and Douglas Ganon on behalf of 375 other investors.&nbsp;</p>
    <p>It claimed Terraform, Luna Foundation Guard, and its co-founders <a rel="noopener noreferrer nofollow" title="Do Kwon" href="https://thebittimes.com/tag/do-kwon.html">Do Kwon</a> and Nikolaos Alexandros Platias, fraudulently misrepresented its enterprise causing losses of $57 million.&nbsp;</p>
    <p>However, <a rel="noopener noreferrer nofollow" title="Do Kwon" href="https://thebittimes.com/tag/do-kwon.html">Do Kwon</a>’s appeals against the lawsuit have been rejected by the Singaporean High Court on Thursday, opening up the doors for a lawsuit.&nbsp;</p>
    <p>Do Kwon initially claimed that the lawsuit should be settled out of court using arbitration and referred to a clause within its website that waivered user rights to a trial or lawsuit.</p>
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       Do Kwon granted extradition, but to US or South Korea?
      </blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; clip: rect(1px, 1px, 1px, 1px);" title="“Do Kwon granted extradition, but to US or South Korea?” — Protos" src="https://protos.com/do-kwon-granted-extradition-but-to-us-or-south-korea/embed/#?secret=KgIxV0kJb2#?secret=sxeyQSzSyi" data-secret="sxeyQSzSyi" width="500" height="282" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"></iframe>
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    <p><em>Read more: Do Kwon granted extradition, but to US or South Korea?</em></p>
    <p>However, this was rejected by the Assistant Registrar. It claimed the terms of the clause were placed in inconspicuous parts of the website with little effort to highlight them.</p>
    <p>Another appeal was submitted by <a rel="noopener noreferrer nofollow" title="Do Kwon" href="https://thebittimes.com/tag/do-kwon.html">Do Kwon</a> against this decision but in doing so, implied to the courts that Terraform accepts the Singapore court’s jurisdiction and thus cannot move to arbitration.&nbsp;</p>
    <p>Do Kwon currently resides in a cell in Montenegro as he awaits extradition to either the US or South Korea.&nbsp;</p>
    <p><em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;</em><em>Instagram</em><em>,&nbsp;</em><em>Bluesky</em><em>, and&nbsp;</em><em>Google News</em><em>, or subscribe to our&nbsp;</em><em>YouTube</em><em>&nbsp;channel.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/singapore-rejects-do-kwon-terraform-labs-case-dismissal-protos-tbt72332.html">https://thebittimes.com/singapore-rejects-do-kwon-terraform-labs-case-dismissal-protos-tbt72332.html</a></p>

Singapore rejects Do Kwon, Terraform Labs case dismissal | Protos

TheBitTimes

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