Breaking: “FatMan” Confirms Joining Class Action Lawsuit Against Terra, Do Kwon

Terra insider “FatMan” claims to join the class action lawsuit filed by the U.S.-based law firm Scott+Scott against TerraForm Labs, its co-founder Do Kwon, and affiliates. Moreover, “FatMan” also confirms preparing a class action against Do Kwon and Terra in another jurisdiction.

“FatMan” Claims to Join US Class Action Lawsuit Against Do Kwon

Terra insider “FatMan” in a series of tweets on July 26 confirmed joining the class action lawsuit Patterson v. TerrForm Labs Pte Ltd. et al. as a plaintiff along with lead plaintiff Nick Patterson.

“We will be joining the class action lawsuit filed in the US by the international law firm Scott+Scott. We are also preparing actions in another jurisdiction. We demand a fair trial to uncover all of TFL & Do Kwon’s wrongdoings and so that justice can take its course.”

The class action lawsuit was filed on June 17 by Scott+Scott Attorneys at Law LLP against TerraForm Labs, co-founder Do Kwon, head of research Nicholas Platias, and affiliated firms for violating the Exchange Act, the Securities Act, the Racketeer Influenced and Corrupt Organizations Act (RICO), and provisions of the California Common Law.

Until now, 3 class action lawsuits have been filed against TerraForm Labs, Do Kwon, Nicholas Platias, and affiliates in the U.S.  The Rosen Law Firm and Bragar Eagel & Squire have also filed similar class action lawsuits having the same defendants, tokens, and allegations.

The class action has been filed on behalf of all investors who purchased or acquired Terra tokens between May 20, 2021 and May 25, 2022. The tokens include TerraUSD (UST) and Terra (LUNA), along with KRT, ANC, WHALE, ASTRO, APPOLO, XDEFI, MINE, aUST, vUST, MIR. The last date for joining as a plaintiff is August 19.

Time to Take Matters Into Own Hands

“FatMan” claims Do Kwon has committed fraud against thousands of investors and companies. He has been laundering money to offshore accounts through shell companies. Also, employees and insiders from Terra, Jump, and other companies have revealed wrongdoings by Do Kwon and affiliates.

Recently, South Korea’s investigation team raided the home and offices of TerraForm Labs co-founder Daniel Shin, escalating investigations into fraud allegations against Do Kwon and TerraForm Labs.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.