In a recent filing with the Southern District of New York courts, Justin Sun's legal team has successfully postponed his fraud and market manipulation trial for the third time. Simultaneously, they've resurrected the dissolved TRON Foundation based in Singapore.
Legal Maneuvers
The Securities and Exchange Commission (SEC) initially accused Justin Sun, along with DeAndre Cortez Way (SouljaBoy) and Austin Mahone, of knowingly accepting undisclosed payments for advertising and potential market manipulation involving TRON and BTT (BitTorrent) tokens.
Legal Outcomes
While Cortez Way faced a default loss and Mahone reached a settlement in August 2023, Justin Sun delayed responding until a week after Mahone's default judgment. In September, Sun further delayed his court appearance, citing the need to re-establish the TRON Foundation, await the SEC v Ripple Labs case outcome, and seek a settlement.
Ongoing Delays
Sun's first court appearance, initially set for September, was postponed again in December. This time, Sun requested additional time for himself and various Sun-owned entities, including BitTorrent Foundation, TRON Foundation, and Rainberry, to align their responsive pleading deadlines and explore potential resolution strategies for the SEC's claims.
Uncertain Future
The court has not set a specific date for Sun's appearance, and the announcement of unified pleas for defendants is scheduled for February 16. The likelihood of further extensions and delays remains high, as Sun's legal representatives from Fenwick & West may seek additional time.
Sanya
