According to the Securities and Exchange Commission (SEC), the agency is requesting a summary judgment from a federal judge to prevent a full trial, stating that there is "no genuine dispute as to any material fact" in the case against Do Kwon and Terraform. The SEC reiterated in the filing that Terraform and Kwon engaged in fraudulent conduct and made misleading statements, emphasizing again that they deceived investors about the stability of UST, falsely attributed its algorithm to its price stability, and secretly arranged for third parties to implement the fraud.