Kik Seeks Summary Judgment In SEC's $100M ICO Suit

By Philip Rosenstein (March 23, 2020, 8:22 PM EDT) -- Kik has asked a New York federal judge to grant the company a win on summary judgment in a case brought by the SEC that alleges the company conducted an unregistered securities offering of its Kin digital tokens, homing in on what it says is an attempt by the agency to dramatically expand its regulatory authority.

The U.S. Securities and Exchange Commission filed its own motion for summary judgment on Friday shortly before the Canadian messaging app filed its motion later that day in the U.S. District Court for the Southern District of New York. The SEC accuses Kik Interactive Inc....

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