Telegram argues "Grams" are not securities, as it seeks to rebuff SEC's injunction application

From financefeeds.com

Shortly after the United States Securities and Exchange Commission (SEC) launched an action against Telegram Group Inc. and its wholly-owned subsidiary TON Issuer Inc., the defendants are seeking to rebut the accusations against them. On October 16, 2019, the defendants submitted their response to the SEC’s emergency application for preliminary injunction. In the document, seen by FinanceFeeds, the defendants say the SEC has insisted that Telegram consent to the entry of a preliminary injunction and also has insisted that Telegram, prior to October 24, (i) search for, collect and produce documents in response to 18 ... (full story)