Federal Judge Orders Genesis to Comply with Terraform Labs Subpoena
Genesis Given Five Days to Produce Documents
A United States judge has approved an order requiring Genesis Global entities to produce certain documents in accordance with a subpoena requested by Terraform Labs.
In an Oct. 13 filing in the U.S. District Court of the Southern District of New York, Judge Jed Rakoff stated that Genesis would have five days to produce documents following a subpoena from Terraform Labs. The deadline is likely until Oct. 18. According to the filing, Genesis failed to provide records by the required date of Oct. 9, as stated in the Sept. 12 subpoena. However, the specific documents being sought by the crypto firm were not mentioned in the order.
Judge Rakoff’s Order
Oct. 13 order from Judge Jed Rakoff. Source: CourtListener
Genesis’ Obligation to Respond
Genesis Global entities have been mandated to comply with a subpoena requested by Terraform Labs. Judge Rakoff’s order requires Genesis to produce certain documents within five days, following their failure to provide the records by the initial deadline of Oct. 9. The exact nature of the documents being sought by Terraform Labs remains undisclosed.
Conclusion
The U.S. District Court of the Southern District of New York has approved an order compelling Genesis Global entities to produce documents in response to a subpoena from Terraform Labs. Failure to comply with the order could result in legal consequences for Genesis.+
