A U.S. federal court has issued a final judgment in the case involving crypto Justin Sun and other companies connected to TRON.
The decision came after a legal case was filed by the U.S. Securities and Exchange Commission (SEC). According to the court documents, the case involved Justin Sun and three related entities: Tron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc.
The defendants agreed to the court’s jurisdiction for the purpose of resolving and settling the matter. The settlement also allowed the case to move forward without Rainberry admitting or denying the allegations linked to the settled claim.
The court ordered that Rainberry must not violate any other U.S. securities law in the future. Also, the company has been permanently barred from engaging in practices that could mislead investors or create a false appearance of trading activity in the financial markets.
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Justin Sun’s Penalty and Payment
As part of the judgment, Rainberry has been ordered to pay about $10 million to the SEC. The payment must be made within 30 days after the judgment is entered.
Source: court.listener
The funds will be held by the SEC while the court decides how the money will be. be disrupted, which could also help compensate users under the Fair Fund provisions of the Sarbanes-Oxley Act.
Court documents also state that the SEC can use legal collection procedures if the payment is not made on time. Interest may also be added to if the payment is not made within the given deadline.
In addition, the judgment clarifies that the penalty will be treated as a payment to the U.S. government and cannot be used to reduce damages in any future lawsuits filed by investors related to the same allegations.
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