- Justin Sun is suing Bloomberg in a Delaware federal court, alleging the company breached a confidentiality agreement and published inaccurate financial details in its Billionaires Index.
- The lawsuit seeks a temporary restraining order to prevent further distribution of the data, which Sun claims was provided under the pretense of strict confidentiality.
- Sun is concerned that the detailed publication of his crypto holdings could expose him and his family to physical harm, including theft, hacking, and kidnapping.
TRON founder, Justin Sun, is taking legal action against Bloomberg over an alleged breach of confidentiality and the misrepresentation of his financial position in its recently updated Billionaires Index.
The lawsuit was filed in federal court in Delaware on Monday and seeks an emergency order to block Bloomberg from further distribution of data, which Sun claims is not only incorrect but was obtained under the pretense of strict confidentiality.
Bloomberg’s legal representatives countered that the material was published at 5:00 p.m. U.S. time — about two hours before Sun made his request to block it.
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Poor Reporting, Says Sun
Moving on, in a blog post from TRON DAO, Sun’s representatives stated that Bloomberg published the material with “poor analysis” and without confirmation from expert and verifiable sources. Moreover, it praised Forbes for providing a “more accurate accounting of Mr. Sun’s assets”.
Such inaccurate reporting grossly misrepresents Mr. Sun’s financial profile (…) If Bloomberg does not correct the record of its Billionaires Index immediately, counsel for Mr. Sun will be forced to pursue all available legal remedies, as well as issue further public statements detailing Bloomberg’s refusal to retract and the legal steps being taken.
TRON DAOIt’s quite a hot mess, but Sun did provide information about his personal portfolio under the pretext that his holdings would remain confidential. The analysis basically indicated that a substantial share of his net worth comes from holdings in TRX, the native token of the Tron network, and an estimate of his Bitcoin holdings (though Sun contests those figures).
Now, Sun is backtracking and is concerned that this information could expose him to “a significant risk of theft, hacking, kidnapping, and bodily harm to him and his family”, as the lawsuit reads.
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