Canadian social media start-up Kik has said its lawsuit with the US Securities and Exchange Commission (SEC) is causing negative press that's damaging the company. Founder Ted Livingston told a Reddit Ask Me Anything session that the dispute is endangering partnerships Kik is trying to strike, including one with a company with 60 million users. Kik is taking on the SEC in court after the regulator claimed a $100 million digital token sale the company engaged in during 2017 represented an unregistered security offering. Kik has been asked to return the proceeds of the sale with interest.
Canadian social media start-up Kik has said its lawsuit with the US Securities and Exchange Commission (SEC) is causing negative press that's damaging the company. Founder Ted Livingston told a Reddit Ask Me Anything session that the dispute is endangering partnerships Kik is trying to strike, including one with a company with 60 million users. Kik is taking on the SEC in court after the regulator claimed a $100m digital token sale the company engaged in during 2017 represented an unregistered security offering. Kik has been asked to return the proceeds of the sale with interest.