Jane Street asks court to toss Terraform Labs insider-trading suit, says trades occurred after disclosures

Jane Street moved to dismiss the insider-trading lawsuit brought by Terraform Labs in federal court, denying it engaged in illicit trading around the TerraUSD (UST) and LUNA collapse and asking the court to throw out the case ^{[1] [2] [3]}.

In its filings the trading firm contends many of its largest transactions happened after critical information became public and argues Terraform is attempting to shift blame for alleged misconduct by its leadership; Jane Street has requested dismissal with prejudice ^{[2] [1] [3]}.

Reporting on the dispute notes that Terraform founder Do Kwon has pleaded guilty to wire fraud and conspiracy and received a 15-year sentence, a development referenced in coverage of the broader litigation ^{[2] [4]}.

The motion is pending in the Southern District of New York and the litigation over alleged market conduct remains active ^[3].