Jump Trading responds to Terraform lawsuit: Plaintiff attempts to divert SEC fines and creditor liability.

PANews reported on March 25 that, according to DL News, market maker Jump Trading responded to the $4 billion lawsuit filed by Terraform Labs' bankruptcy liquidators, claiming that the plaintiffs fabricated allegations in an attempt to shift Terraform's responsibilities to the SEC and creditors onto the defendants. In its response filed on March 23, Jump Trading pointed out that the lawsuit lacks key details, fails to specify the specific actions of the defendants or the locations of the violations, and is time-barred.

Todd Snyder, who was in charge of the bankruptcy liquidation of Terraform Labs, sued Jump Trading and several of its subsidiaries and two executives last December, accusing them of market manipulation, defrauding investors, and self-dealing, and seeking $4 billion in damages.