US SEC Files Appeal Pre-Agreement Statement In Ripple Lawsuit
As highlighted by Fox Business Journalist Eleanor Terrett, some of the issues the regulator is contesting include the programmatic sales of XRP on secondary exchanges. Additionally, the SEC aims to contest the role of Brad Garlinghouse and Chris Larsen Ripple lawsuit per the boost of XRP sales
The US Securities and Exchange Commission (SEC) has officially filed the Civil Appeal pre-argument statement (Form C) in its ongoing lawsuit with Ripple Labs Inc. This filing comes amid confusion in the broader community regarding the market regulator’s missed deadline to file Form C.
SEC and Ripple Lawsuit Appeal Enters Next Phase
The SEC versus Ripple securities lawsuit is one that came with a lot of controversies. After Judge Torres ordered Ripple to pay a $125 million penalty in August, many thought the case would end there.
However, the regulator filed a Notice of Appeal to contest the ruling. At the time, no one knew the aspect of the lawsuit the US SEC planned to appeal. With this Form C filing, the regulator noted that it want to contest the summary judgment or the decision of the court in general.
As highlighted by Fox Business Journalist Eleanor Terrett, some of the issues the regulator is contesting include the programmatic sales of XRP on secondary exchanges. Additionally, the SEC aims to contest the role of Brad Garlinghouse and Chris Larsen Ripple lawsuit per the boost of XRP sales.
