Judge rejects XRP hodlers' bid to join SEC against Ripple case as defendants
The judge ruled that the SEC would be required to launch enforcement actions against each individual XRP holder should they be allowed to participate in the case as defendants. There has been another twist in the ongoing battle between distributed ledger technology firm Ripple and the U.S. Securities and Exchange Commission (SEC).On Monday, Oct. 4, U.S. District Judge Analisa Torres ruled that individuals holding the company’s XRP token cannot act in Ripple’s ongoing lawsuit as defendants. The determination comes after a number of XRP token holders aimed to file “friends of the court”....
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In a significant development in the legal battle between Ripple and the Securities and Exchange Commission (SEC), Judge Analisa Torres has rejected the SEC’s motion to appeal the Ripple ruling. This decision comes as another win for Ripple, the blockchain payment company, as it fights allegations of conducting an unregistered securities offering. Judge Rejects SEC’s […]
The U.S. Securities and Exchange Commission (SEC) has asked the judge in the SEC v. Ripple case to block Ripple and its executives from accessing various internal records it claims are unrelated to determining whether XRP is a security. The SEC says that the “defendants do not actually seek relevant evidence, but rather seek to harass the SEC, derail the case’s focus away from its merits, and bog down the SEC with document review.” SEC Seeks to Limit Ripple’s Access to Its Records The SEC wrote a letter to Judge Sarah Netburn Wednesday attempting to block Ripple....
A federal judge has accepted token holders' claim that their interests are not being adequately represented in the SEC's ongoing lawsuit against Ripple Labs. XRP tokenholders who have sought the right to intervene in the ongoing case against Ripple Labs by the United States Securities and Exchange Commission have been given the green light by the district judge of the court of the Southern District of New York.According to a letter filed by District Judge Anna Torres on March 29, the proposed intervenors have until April 19 to file their motion to intervene, with further deadlines up until....
"The judge realizes this is not just about Ripple, this will have broader implications,” Ripple CEO Garlinghouse said. The long-standing feud between distributed ledger technology firm Ripple and the United States Securities and Exchange Commission (SEC) is nearing its end, according to Ripple’s CEO.Brad Garlinghouse highlighted the progress made in the case “despite a slow-moving judicial process.” Speaking to CNBC, he predicted that the Ripple case would likely conclude in 2022. “Clearly, we’re seeing good questions asked by the judge,” Garlinghouse said, adding his belief that “The....
Ripple CEO Garlington claims a “big win” in the dismissal of an SEC motion while remaining silent about the ruling on his own motion. Southern New York District Court Judge Analisa Torres issued two rulings Friday on motions filed in the Security and Exchange Commission (SEC) lawsuit against Ripple Labs.Ripple argued that it was not given fair notice by the agency that it would consider the token a security, thus denying the company due process. Judge Torres denied the SEC motion, filed in April, to dismiss this defense, and by doing so affirmed that the defense is viable in the suit — in....