Jane Street asks court to dismiss Terraform insider trading suit

Jane Street asked a Manhattan federal court to dismiss with prejudice a lawsuit from bankrupt Terraform Labs’ administrator that accuses the firm of insider trading during the Terra collapse. Todd Snyder sued Jane Street, Robert Granieri, Bryce Pratt and Michael Huang in February, alleging they traded Terra-linked tokens after receiving nonpublic information from Terraform insiders. Jane Street said it traded on market signals, not insider information. TerraUSD lost its dollar peg in May 2022, LUNA tumbled, and the collapse wiped out $40 billion in value.

LUNA5.16%
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