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Kik Continues Legal Battle With SEC, Requests Trial Date Definition

Published 01/10/2020, 07:59 AM
Updated 01/10/2020, 09:41 AM
© Reuters.  Kik Continues Legal Battle With SEC, Requests Trial Date Definition

Kik Interactive Inc. requested the formal definition of a trial date for its lawsuit with the United States Securities and Exchange Commission (SEC), as revealed by a Jan. 9 court document. The company was charged by the SEC in June 2019 for conducting an unregistered security issuance with its $100 million initial coin offering (ICO).

Kik Interactive is the Canadian developer of the Kik messenger app. It launched a successful ICO in 2017, releasing the Kin token. Though it was presented as a utility token for accessing some features of the Kik messenger, the SEC placed the company under scrutiny since early 2019.

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