The class action was one of the many lawsuits brought against the company last year after the Terra-LUNA fiasco that wiped out billions of dollars as investors watched their funds vanish into thin air within a matter of days.
A federal court in Singapore has denied an appeal to dismiss a class action suit filed against Terraform Labs, the brains behind the former Terra blockchain, and its disgraced co-founder Do Kwon on November 30.
According to a Business Insider report, the duo filed a motion of appeal at the High Court in an attempt to get the suit dropped, but the court ruled in favor of the defendants, and the class action suit is now moving forward.
Class Action Suit to Move Forward
During the court hearing on Thursday, lawyers representing the company and its former CEO, who