Tron founder Justin Sun has filed a lawsuit against Bloomberg following the publication of its recent Billionaires Index profile.
Sun sued in a federal court in Delaware, asking for a temporary restraining order to prevent Bloomberg from releasing in-depth information.
He accused the paper of publishing misleading financial information that falsely represented his holdings and breached its promise to keep his information confidential.
In a blog post published by Tron on Tuesday, Sun’s representatives alleged the profile posed risks to his security and privacy. Bloomberg contacted Sun in February to confirm the assets for the Billionaires Index, the filing says.
Lawsuit Targets Bloomberg Over Crypto Asset Claims
Sun said Bloomberg assured him his crypto currency holdings and other sensitive financial details would remain confidential and used solely for verification.
The suit alleged that Bloomberg intended to release particular and granular financial information along with false statements regarding the portfolio of cryptocurrencies he owned.
Sun claimed he reviewed similar Index profiles and noted other cryptocurrency figures had only reported lump-sum values without revealing individual holdings.
On Tuesday, Bloomberg’s lawyers informed the court they would oppose Sun’s request for a restraining order, calling the application moot.
They contended Bloomberg had already released the contested article close to two hours before the filing of Sun’s motion to have it blocked.
The lawyers also noted Sun’s motion would have violated the company’s freedom of speech and press protections under the First Amendment.
Tron Founder Disputes Bloomberg’s Crypto Asset Report
Bloomberg argued Sun had failed to demonstrate the article had violated his right of privacy, caused irreparable injury, or broken any prior agreement.
The outlet updated its profile on Sun Monday, showing that most of its net worth is generated by cryptocurrency holdings, mostly Tron’s TRX.
Bloomberg said the study employed financial information published by Sun representatives this year, attributing specific holdings to the individual.
Sun rebutted that Bloomberg had wrongly attributed some of the cryptocurrency holdings to him but omitted others he owns or has control over.
He further alleged that disclosure of such information would put him and his family at heightened risks of theft, hacker break-ins, kidnapping, or physical abuse.
The report added that Bloomberg had given the quality of the analysis one star out of five, which Sun had criticized on public platforms.
