Kik Interactive Inc. requested the formal definition of a trial appointment for its lawsuit with the United States Securities and Exchange Commission (SEC), as revealed by a Jan. 9 court certificate. The company was charged by the SEC in June 2019 for conducting an unregistered security issuance with its $100 meg initial coin offering (ICO).

Kik Interactive is the Canadian developer of the Kik messenger app. It launched a successful ICO in 2017, releasing the Kin token. Though it was presented as a utility token for accessing some features of the Kik messenger, the SEC placed the company under scrutiny since early 2019.

The regulatory pressure acquired Kik to significantly downsize its operations in September 2019 to focus on the legal battle. CEO Ted Livingstone pledged to fight the SEC until it "didn't have a dollar left," though this became unnecessary post-obit a buyout by MediaLab.

Pushing for trial

Kik remains defiant in the face up of overwhelming odds, arguing that the committee does not have potent show to support their claims. Livingstone had expressed his desire to get to trial as soon equally possible, setting May 2020 equally a possible target.

However, new documents show that this may be an unattainable goal. In response to a Nov. 26 courtroom order, the two parties agreed on a roadmap in preparation for the trial which is set to be completed in June 2020.

Additionally, the documents reveal that Kik is objecting to a degradation sought by the SEC, which may farther filibuster plans:

"The parties plan to present a joint letter brief to the Courtroom on the Dominion 30(b)(6) issue within a week, and [...] the parties will attempt to schedule this deposition, forth with the other ii depositions, by the above-proposed fact discovery borderline of Jan 28, 2020. If the parties are unable to see this deadline, they will request further relief from the Court regarding the instance schedule as appropriate."

Despite this, Kik requested the court to set a specific trial date. The SEC holds a neutral position on the matter, meaning that the decision is entirely up to the courtroom itself.

This may occur at the status conference scheduled for Jan. 14, a pre-trial hearing where judges revise the preparatory activities and can set up upwards a tentative trial date.