- Brad Garlinghouse, CEO of Ripple, claims a “big win” in denial of a Securities and Exchange Commission motion while staying silent regarding ruling on his own motion.
- Couple of rulings were issued by NYC Judge Analisa Torres on motions filed in SEC lawsuit against XRP.
- The lawsuit made allegations against XRP as an investment commodity without Securities and Exchange Commission enlisting from 2013 to Dec 2020.
Motions Denied !!!
NYC District Judge Analisa Torres issued a couple of rulings on motions filed in SEC case against XRP.
XRP made arguments that they were not issued fair notice by agency that it would consider digital asset as a security, thus dismissing organization’s due process.
Judge Analisa Torres dismissed របស់ SEC motion, filed back in April, to deny this defense, and by doing so, ruled that defense is viable in this lawsuit. In other words, defense, if accepted, could be utilized to conquer this case.
NYC Judge Analisa Torres also dismissed a motion filed by Brad Garlinghouse, Ripple CEO and Christian A. Larsen, executive chairman, back in April to deny case against them for abetting and aiding alleged unlisted securities sales. By filing a motion, defendants made a claim that, even if suit allegations were true, they would not compromise an attainable case.
While Brad Garlinghouse acknowledged dismissal of SEC motion as a massive win, lawsuit is still at its pleadings phase, so there are likely to be several more maneuvers on the way.
Since decisions, XRP has moved to counter a supplemental report refuting an expert report on market performance of Ripple.
Source: https://www.thecoinrepublic.com/2022/03/15/xrp-vs-sec-fight-continues-following-denial-of-ripple-and-sec-motions/