Rebecca Rettig, partner at FisherBroyles, talks about Kik’s answer this week to the SEC’s complaint, why she predicted they would make this move as opposed to filing a motion to dismiss as many had expected and what their main arguments were. We discuss the key points of their answer, such as the distinction they make between their SAFT sale to accredited investors vs. the token sale to the general public, how we could get new law applied to tokens as well as how the SEC took quotes out of context to make it appear that Kik and/or its board members and other associates said the opposite of what they meant.
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Episode links:
Rebecca Rettig: https://www.linkedin.com/in/rebecca-rettig-8b90a284/
FisherBroyles: https://www.fisherbroyles.com
Kik’s response to the SEC: https://www.scribd.com/document/420998937/Kik-Response-to-SEC#from_embed
Katherine Wu’s annotations on the response: https://static1.squarespace.com/static/5ac136ed12b13f7c187bdf21/t/5d4a3cfcfe4cc000019dff3b/1565146371923/KIK_SEC_+Answer+to+Complaint_3.pdf
CoinDesk article summarizing Kik’s answer: https://www.coindesk.com/kik-says-sec-twisted-facts-about-100-million-token-sale
CoinDesk interviews with Kik CEO Ted Livingston, and blockchain lawyers Joshua Klayman, Rebecca Rettig and Nelson Rosario on this week’s news: https://www.coindesk.com/watch-join-coindesk-live-with-ted-livingston-ceo-of-kik