Kik previously considered continuing its legal fight with the SEC
Last month, Judge Hellerstein ruled that the Canadian mobile messaging app operator violated Section 5 of the Securities Act.
At the time, Kik CEO Ted Livingston said he was disappointed by the court’s ruling and considering an appeal. He reiterated that hat “the public sale of Kin was that of a functional currency and not a sale of securities.”
Livingston also said, “We are obviously disappointed in this ruling. We are considering all of our options, including filing an appeal. To be clear, Kik has always supported the Commission’s goal of protecting investors, and we take compliance seriously.”
The proposed agreement to settle the case showed that Livingston changed his mind regarding an appeal.
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