SEC Seeks Full Telegram Bank Records By Next Week

Law360 (January 2, 2020, 9:06 PM EST) -- The U.S. Securities and Exchange Commission on Thursday asked a New York federal judge to compel Telegram Group Inc. to quickly hand over bank records in a case alleging the company's $1.7 billion digital token sale was an unregistered securities offering.

In an emergency letter motion filed in the U.S. District Court for the Southern District of New York, the SEC said that reviewing Telegram's bank records to learn more about how it used the $1.7 billion raised in the token sale would help answer central questions that inform whether the sale of its digital token, Grams, tripped securities registration requirements....

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!