Kik (Again) Asks for Trial in Legal Tussle With SEC Over Token Sale

Kik is hoping to go to trial in the ongoing legal fight with the SEC over its 2017 kin token sale.

AccessTimeIconJan 10, 2020 at 10:00 a.m. UTC
Updated Sep 13, 2021 at 12:07 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Kik is hoping to go to trial against U.S. Securities and Exchange Commission (SEC) allegations that the company conducted an unregistered securities offering with its 2017 kin token sale.

The SEC filed a status update on the legal battle Thursday, providing a tentative schedule for the proceedings and detailing the parties' plans for scheduling some remaining depositions.

"Kik requests that the Court set a trial date. The SEC takes no position on whether setting a trial date would be helpful at this stage and submits that the matter can and should be resolved by dispositive motion," the filing reads.

The tentative schedule, assuming all depositions are able to be completed by the end of January, would be:

  • Jan. 28: Parties plan to complete all of their depositions
  • Feb. 28: Parties will exchange expert reports
  • March 24: Parties will file rebuttals to the expert reports
  • April 17: Parties plan to end expert discovery
  • May 8: Parties will file their motions for summary judgement and attempts to exclude any evidence
  • June 3: Parties will file their oppositions
  • June 19: Parties will reply to the oppositions

Kik has been looking to hold a trial in the case since the summer of 2019. CEO Ted Livingston told CoinDesk in August that Kik was hoping for a May 2020 trial date, but that the SEC had pushed for a later timeline.

At the heart of the case is whether kin tokens, which Kik developed, were securities in 2017 during the ICO. Kik raised $100 million from the sale.

The company has complained of a heavy financial burden since the case began, selling off its original Kik messaging platform and pivoting to focus solely on its cryptocurrency ecosystem.

See the filing below:


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about