First Digital Trust Initiates Defamation Lawsuit Against Justin Sun
Justin Sun faces a defamation claim from Hong Kong-based First Digital Trust following his allegations of the company's insolvency. Key points include:
- First Digital's FDUSD stablecoin briefly de-pegged on April 3 after Sun's claims, but has since recovered.
- The company filed a writ of summons requesting an injunction to prevent further statements from Sun and demanding retractions.
- First Digital seeks damages for interference with contractual and business relationships, although no specific amount is mentioned.
- Sun held a press conference alleging fraud and calling for regulatory reform in Hong Kong regarding trust laws.
- First Digital provided evidence of successful redemptions amid the controversy.
- No date has been set for the initial court hearing; Sun has not yet responded but expressed willingness to engage in legal proceedings.
- The case number is HCA 680 in Hong Kong's High Court.