Terra

Foundation

Billion

<p>The post <a href="https://coinpedia.org/news/terra-luna-investors-heres-how-to-claim-your-share-of-the-4-47-billion-settlement/">Terra Luna Investors: Here’s How to Claim Your Share of The $4.47 Billion Settlement!</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The U.S. Securities and Exchange Commission (SEC) has released important information for Terra Luna investors affected by the $40 billion collapse in 2022. After many <a href="https://www.sec.gov/enforcement-litigation/distributions-harmed-investors/sec-v-terraform-labs-pte-ltd-do-hyeong-kwon-no-23-cv-1346-jsr-sdny" target="_blank" rel="noreferrer noopener nofollow">questions from investors</a> about how to get their money back, the SEC has put out a guide explaining how compensation will work following a recent settlement.</p> 
<p>Following a recent settlement, they’ve launched an info page to guide you through the process of recovering your losses.</p> 
<h2 class="wp-block-heading" id="h-court-ruling-and-financial-repercussions">Court Ruling and Financial Repercussions</h2> 
<p>On June 12, 2024, the U.S. District Court for the Southern District of New York approved a final consent judgment against Terraform Labs and Kwon. The court found the company and its founder liable for fraudulent activities related to crypto asset securities.&nbsp;</p> 
<p>As a result, Terraform Labs is required to pay a <a href="https://coinpedia.org/news/terraform-labs-to-settle-sec-dispute-with-4-47-billion-payment/" target="_blank" rel="noreferrer noopener">substantial sum of $4.47 billion</a> in disgorgement, prejudgment interest, and civil penalties. Meanwhile, This comes from the $40 billion market loss in 2022 caused by the Terra ecosystem collapse.</p> 
<p>This payment will be addressed through <a href="https://coinpedia.org/news/terra-luna-receives-key-bankruptcy-court-order-major-changes-ahead/" target="_blank" rel="noreferrer noopener">Terraform’s ongoing bankruptcy proceedings</a>, focusing on compensating harmed investors and creditors.</p> 
<h2 class="wp-block-heading" id="h-kwon-s-financial-contributions">Kwon’s Financial Contributions</h2> 
<p>Under the court’s order, Kwon must transfer $204 million to Terraform’s bankruptcy estate. This amount includes $7 million in cash, all crypto assets held by the Luna Foundation Guard, and his PYTH crypto asset tokens.&nbsp;</p> 
<p>These assets will be allocated to affected investors as part of the compensation process. Meanwhile, the penalties serve as a clear warning to anyone considering similar wrongdoing activities.&nbsp;</p> 
<h3 class="wp-block-heading" id="h-chapter-11-plan-amp-liquidation-process">Chapter 11 Plan &amp; Liquidation Process</h3> 
<p>Terraform Labs will seek approval for a liquidating Chapter 11 plan, establishing a liquidating trust or estate representative. This plan aims to liquidate assets to benefit creditors and harmed investors.&nbsp;</p> 
<p>The plan and disclosure statement will be made available for review, and affected parties will have the opportunity to vote on the plan and submit objections.</p> 
<h2 class="wp-block-heading" id="h-what-next-for-investors">What Next for Investors</h2> 
<p>The confirmation hearing for the Chapter 11 plan is expected to <a href="https://coinpedia.org/news/terras-key-deadline-could-boost-luna-prices-dont-miss-your-chance-to-claim/" target="_blank" rel="noreferrer noopener">take place in fall 2024</a>. Once the bankruptcy court approves the plan, detailed procedures for submitting proof of claim and related deadlines will be posted online.&nbsp;</p> 
<p>Investors and creditors are encouraged to stay updated on these developments to ensure their claims are properly addressed.&nbsp;</p> 
<p>Also Check Out: <a href="https://coinpedia.org/news/mt-gox-news-alert-3-15-billion-bitcoin-move-sparks-massive-btc-price-swings/" target="_blank" rel="noreferrer noopener">Mt. Gox News Alert: $3.15 Billion Bitcoin Move Sparks Massive BTC Price Swings!</a></p>

Terra Luna Investors: Here’s How to Claim Your Share of The $4.47 Billion Settlement!

Indice dei contenuti

CoinPedia News

Altri articoli pubblicati su 31 lug 2024

BlackRock Issues Urgent Warning Over Rising Crypto Scams Targeting ETF Investors

RollBlock Drawing a Crowd as Whales Gather For 30% Dividends ADA and ETH Holders Make Room In The...

PlayDoge ICO Raises $5.7 Million: Analyzing Why Investors Are Taking Notice

Weekly Article Recap: 7/22-7/26

Solana (SOL) Price Moves Ahead: Here’s Why

USDC Market Share Rises in July

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!