The United States Securities and Exchange Commission (SEC) has been dealt another setback in its ongoing legal battle against Ripple Labs. District Court Judge Analisa Torres has dismissed the SEC’s interlocutory appeal motion. On October 3, Judge Torres based her decision on the regulator’s failure to convincingly demonstrate “controlling questions of law” and “substantial grounds for differences of opinion.”The trial has been scheduled for April 23, 2024, to further examine the outstanding issues of the case. Jeremy Hogan, a well-regarded lawyer in the XRP community, emphasized the impact of this recent ruling, noting that the SEC’s motion for interlocutory appeal was denied, meaning the case either goes to trial in April or goes away.Diving deeper into potential timelines, attorney Fred Rispoli provided a speculative roadmap for the litigation. He marked the April 2024 trial date and proposed that it could last for eight weeks or more. Rispoli further noted the importance of upcoming pre-trial motions expected in December 2023, followed by rulings in early 2024.Scott Chamberlain, a former lawyer and co-founder of Evernode XRPL, expressed his views on the broader ramifications of the recent court decision, noting that the SEC is stuck with a “shitty factual record” that makes successful appeal much more difficult.At press time, the XRP price stood at $0.5893 and showed a modest reaction to Ripple’s victory, rising 3% since the announcement.The SEC has been dealt another setback in its legal battle against Ripple Labs. District Court Judge Analisa Torres dismissed the SEC’s interlocutory appeal motion on October 3. The trial has been scheduled for April 23, 2024, and attorney Fred Rispoli provided a speculative roadmap for the litigation. Upcoming pre-trial motions are expected in December 2023, followed by rulings in early 2024. Scott Chamberlain, a former lawyer and co-founder of Evernode XRPL, noted that the SEC is stuck with a “shitty factual record” that makes successful appeal much more difficult. At press time, the XRP price stood at $0.5893 and showed a modest reaction to Ripple’s victory, rising 3% since the announcement.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | Brad Garlinghouse, Scott Chamberlain., Fred Rispoli, Bill Morgan, Jeremy Hogan, Chris Larsen |
| Companies | SEC, 2nd Circuit, United States Securities and Exchange Commission, Evernode XRPL, Ripple Labs |
| Currencies | XRP, Bitcoin, Ethereum |
| Securities | None |
