The SEC kicks Kik back or: How to lose friends, spend money and aggravate regulators
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Quick Take
- Kik demands depositions of William Hinman and other high-level SEC officials in defense of SEC enforcement action involving issuance of Kin Tokens
- SEC also demands documents related to all other ICO enforcement actions and investigations
- SEC files motion to dismiss affirmative defense that “investment contract” as applied to Kin is unconstitutional
- SEC and Kik provide their positions to court in joint letter
- Court says no way to depositions and discovery requests. Denies motion to dismiss for now, says SEC can renew later
Link to motion to dismiss Link to joint discovery letter If you’re litigator or trial lawyer, sometimes people will call you and say they want a “junkyard dog” to go fight for them. Sometimes they are just mad and need to be talked down to earth. Sometimes what they mean is that they want someone […]
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