Kik seeks trial in court over SEC allegations against its token sale

Kik hopes to trial the US Securities and Exchange Commission (SEC) allegations that the company had issued an unregistered securities offering in the 2017 kin token sale. The SEC submitted the latest litigation progress on Thursday, provided a preliminary litigation schedule, and detailed plans for the parties to arrange for the remainder to testify. Kik asked the court to set a trial date. At this stage, the SEC takes no position as to whether setting a trial date is helpful and believes that this issue can and should be resolved through a decisive motion.