Telegram withdraws appeal against SEC over TON. Telegram has made the decision to withdraw its appeal against the US Securities Exchange Commission in a legal battle over the banned TON blockchain project.
The filing that came in on Friday states that “The parties in the above-referenced case have filed a stipulation withdrawing this appeal pursuant to Local Rule 42.1.” The rule means that the parties have filed an agreement for dismissal of the case without prejudice. As such, the case is a done deal for now.
Gram investors have now been given two options: either take back 72% of their investment in TON, according to the previously agreed contract amendment, or loan the money to Telegram for one year, with a promise to get 110% in April 2021.
Some investors have allegedly received their refunds, while others said they had taken the loan route. However, a number have been unhappy with the outcome and said they are considering suing Telegram. No filed lawsuit has been made public thus far.