Investor Alert: Investors Who Suffered Significant Losses in Terra Tokens File Class Action Lawsuit Against Terraform Labs


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Timothy L. Miles, Nationally Recognized Shareholder Rights Attorney

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Timothy L. Miles, Nationally Recognized Shareholder Rights Attorney

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Timothy L. Miles, Nationally Recognized Shareholder Rights Attorney

Defendants have made false and misleading statements regarding the largest digital assets in the Terra ecosystem by market capitalization, UST and LUNA.

Buyers of Terra Tokens with significant losses are encouraged to contact our office for a free case evaluation “”

—Timothy L. Miles

NASHVILLE, TENNESSEE, USA, July 7, 2022 /EINPresswire.com/ — The law firm of Timothy L. Miles, which has led the fight to protect shareholder rights for more than 20 years, reminds investors that class action lawsuit has been filed by investors who suffered significant losses in TerraUSD stablecoins known as “Terra Tokens” against defendants TerraForm Labs Pte. Ltd (“TFL”), Jump Crypto, Jump Trading LLC, Republic Capital, Republic Maximal LLC, Tribe Capital, DeFinance Capital, DeFinance Technologies, GSR/GSR Market Limited, Three Arrows Capital Pte. Ltd, TFL co-founder and CEO Do Kwon and its head of research, Nicholas Platias. The action, which was filed in the U.S. District Court for the Northern District of California and titled Patterson v. TerraForm Labs Pte Ltd. Et al., Case No. 3:22-cv-03600, asserts claims under §§5, 12 (a)(1), and 15 of the Securities Act of 1933 (the “Securities Act”), as well that pursuant to Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”), on behalf of a class consisting of all persons and entities, other than the defendants and their affiliates, who have purchased so-called Terra Tokens from May 20, 2021 through and including May 25, 2022 (the “Class Period”), and were thereby damaged.

If you have suffered significant losses in Terra Tokens, click here.

Allegations in the Terraform Labs Class Action

TFL is a company that operates the Terra blockchain and its associated protocol, which hosts, supports and funds a community of decentralized financial products and applications known collectively as the Terra ecosystem. The plaintiffs allege that although the Terra tokens have all the characteristics of an investment contract, and therefore a security, no registration statement has ever been filed with the United States Securities and Exchange Commission. regarding the various Terra tokens. In addition to alleging the sale of unregistered securities, the Terraform Labs class action lawsuit also alleges that the defendants made false and misleading statements regarding the Terra ecosystem’s largest digital assets by market capitalization, UST and LUNA, in order to to induce plaintiffs and other investors to purchase these digital assets at inflated rates.

TFL has repeatedly touted and promoted the stability of UST and LUNA and the sustainability of the Pegging Protocol, a type of high-yield savings account where investors can “stake” or deposit UST with TFL by exchange of a guaranteed APY interest rate of 20%. However, between May 6, 2022 and May 9, 2022, structural infirmities specific to the Terra ecosystem revealed a crack in the UST’s ability to sustain its $1 pet. The truth, according to the Terraform Labs class action lawsuit, regarding the stability and sustainability of the UST/LUNA pair and the peg protocol could no longer be hidden from investors, and within a week the price of UST and LUNA crashed around 91% and 99.7%, respectively, as investors suffered large losses in Terra Tokens.

Buyers of Terra Tokens with significant losses are urged to contact the company

If you purchased Terra Tokens and suffered significant losses, click here. If you have any questions regarding this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, toll-free at 855-846-6529, or by email at [email protected] If requesting by e-mail, please include your mailing address, telephone number and number of shares held.

About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as the highest-ranked lawyer in 2022 and the highest-rated litigator in 2022. Mr. Miles also maintains Martindale-Hubbell’s AV Preeminent rating.®, their highest rating for legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb attorney rated by Avvo, recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Attorney. , Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Awards: Highest rated litigator by Martindale-Hubbell® and ALM (2019); 2019 Elite Lawyer of The South by Martindale-Hubbell® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); A V® Preeminent™ Ranking by Martindale-Hubble® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2017 and 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Capacity (Martindale-Hubble® 2015); Lifetime Achievement Award from Premier Lawyers of America (2019); Superb Rated Lawyer (Avvo); Avvo Highest Rated Lawyer for (Avvo 2017-2020). Mr. Miles is the author of numerous publications advocating stock ownership, including the most recent: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Important Benefits To Investors (Timothy L. Miles, December 3, 2019).

Contact:
Timothy L. Miles, Esq.
Law Firms of Timothy L. Miles
109 Summit Ridge CT.
Nashville, Tennessee 37215
Phone: (855-846-6529)
Email: [email protected] Website: www.classactionlawyertn.com

SOURCE: The Law Offices of Timothy L. Miles
Timothy Miles
Law Firms of Timothy L. Miles
+1 855-846-6529
write to us here
Visit us on social media:
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Timothy Miles
Law Firms of Timothy L. Miles
+1 855-846-6529
write to us here
Visit us on social media:
Facebook
Twitter
Other

THE LAW OFFICES OF TIMOTHY L. MILES; AWARDS, HONOR AND RECOGNITIONS

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