Kik Says Order In Telegram Crypto Case 'Has No Bearing'

Law360 (May 11, 2020, 10:09 PM EDT) -- Kik Interactive hit back at the SEC in a case alleging the Canadian company's digital token offering was an unregistered securities offering, saying the agency's win in a case against fellow messaging application Telegram "has no bearing on" Kik's motion for summary judgment.

The U.S. Securities and Exchange Commission entered its own filing, also on Friday, reaffirming its arguments that Kik Interactive Inc. violated the Securities Act of 1933 by failing to register its 2017 offering of Kin tokens with the agency. According to the SEC, the factual record, including Kik's own statements promoting the Kin offering, should move the court...

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