SEC Sues Kik for Conducting Allegedly Unregistered $100 Million ICO in 2017
The United States Securities and Exchange Commission (SEC) has sued Canadian startup Kik for an unregistered $100 million token offering, the regulator officially announced on June 4.
According to the SEC’s complaint, Kik violated the registration requirements of Section 5 of the Securities Act of 1933. The agency is seeking a permanent injunction, disgorgement plus interest, and a penalty.
