Terraform Labs seeks dismissal of class action lawsuit citing no

Terraform Labs is seeking to dismiss a class action lawsuit brought against the company by U.S. investor Nick Patterson and others, arguing that the cited U.S. securities laws do not apply to its foreign-developed agreements. The lawsuit alleged that Terraform Labs sold unregistered securities and misled investors.
According to Terraform, the same argument applies to the RICO (Racketeer-Influenced and Corrupt Organization) allegations in the lawsuit, which allege the company's goal is to extract profits at the expense of retail investors.