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Kik’s troubles mount as SEC files suit claiming securities law violation, lawyers say

by Celia Wan

June 5, 2019, 12:00PM EDT  ·  4 min read

Quick Take

  • The Block talked to several lawyers about their views on the SEC’s lawsuit against Kik
  • Although the SEC presents a strong case against the firm with detailed evidence, Kik may still be able to argue for an alternative interpretation of the securities law, experts said

by Celia Wan

June 5, 2019, 12:00PM EDT  ·  4 min read

The U.S. Securities and Exchange Commission has filed suit against Kik, claiming it violated securities law with its initial coin offering (ICO). Experts tell The Block that the SEC has a solid case, but Kik is preparing its own argument in response, questioning whether its token sale actually falls under the agency’s jurisdiction.