Adam Gale

Telegram: Deconstructing One of the Biggest Blockchain Cases of 2020

By Robert A. Musiala, John Harrington, Teresa Goody Guillén, Adam Gale, Jonathan A. Forman and Veronica Reynolds on December 14, 2020 Posted in Blockchain

The Telegram case is arguably the most important case of 2020 involving the legal classification of blockchain-based digital assets. Because it is often cost-prohibitive for companies to challenge the government in court, the Telegram litigation offered a unique opportunity for the parties to present arguments on several complex legal issues. Given the lack of judicial … Continue Reading

SEC Wins Case Against Kik and Adds Precedent for Digital Assets

By Adam Gale, Teresa Goody Guillén, Robert A. Musiala and Jonathan A. Forman on October 12, 2020 Posted in Securities & Exchange Commission

On Sept. 30, the United States District Court for the Southern District of New York granted the U.S. Securities and Exchange Commission’s (SEC) motion for sum mary judgment against Kik Interactive Inc. (Kik) and denied Kik’s cross-motion for summary judgment. As we previously reported, the SEC challenged Kik’s compliance with the federal securities laws in … Continue Reading

Court Applies Single Scheme Theory To Grant the SEC’s Preliminary Injunction in Telegram Cryptocurrency Case

By John Harrington, John Gherlein, Teresa Goody Guillén, Jonathan A. Forman, Adam Gale and Robert A. Musiala on April 2, 2020 Posted in Cryptocurrency

On March 24, Judge P. Kevin Castel of the U.S. District Court for the Southern District of New York granted the Securities and Exchange Commission’s (SEC) motion for a preliminary injunction in the closely followed Telegram case. The preliminary injunction continues to prevent the delivery by Telegram Group Inc. and TON Issuer (collectively, Telegram) of … Continue Reading