Kik Interactive Inc.

Case No. 19-CV-5244 (AKH) (S.D.N.Y.)

On June 4, 2019, the Commission filed a Complaint against Kik Interactive Inc. (“Kik” or the “Defendant”). In early 2017, Kik devised a plan to offer and sell digital tokens called Kin that could be used to buy goods and services and be traded on secondary trading platforms. Through September 2017, Kik offered Kin to the general public and also offered discounted Kin to investment funds and other wealthy investors using “Simple Agreements for Future Tokens” or “SAFTs.” The Complaint alleged that Kik’s offer, and sale of Kin was not registered with the SEC and that Kik failed to disclose financial information required by federal securities laws. Kik had never filed a registration statement with the SEC for its offer and sale of securities. See the Commission’s Complaint.

The Defendant was ordered, and has paid, a $5,000,000.00 civil penalty. The Commission was ordered to hold all funds, together with interest and income earned thereon (collectively, the “Fund”), pending further order of the Court. See Final Judgment.

On May 20, 2024, the Court established a Fair Fund and appointed Miller Kaplan Arase LLP (“Miller Kaplan”), a certified public accounting firm with an office in San Francisco, CA as Tax Administrator (“Tax Administrator”) of the Fair Fund to execute all income tax reporting requirements of the Fair Fund. See Order Establishing a Fair Fund and Appointing a Tax Administrator.

For more information, please contact the Commission:

Office of Distributions
Email: ENFOfficeofDistributions@sec.gov