Ripple will drop cross-appeal in SEC case, get refund from lower court ruling
25 Marzo 2025 - 7:32PM
Cointelegraph
Blockchain firm Ripple Labs’ case with the US Securities and
Exchange Commission (SEC) may be officially wrapped up after more
than four years, subject to court approval.
According to a March 25 X post from chief legal officer Stuart
Alderoty claiming what could be “the last update on SEC v. Ripple
ever,” the executive said Ripple will drop
its cross-appeal against the SEC in the US Court of Appeals for the
Second Circuit. An August 2024 judgment from the US District Court
for the Southern District of New York finding Ripple liable for
$125 million will essentially stand, but the SEC will keep only $50
million of the amount in escrow — the remaining balance will be
returned to Ripple.
“The agency will also ask the Court to lift the standard
injunction that was imposed earlier at the SEC’s request,” said
Alderoty. “All subject to Commission vote, drafting of final
documents and usual court processes.”
Ripple chief legal officer statement on latest development
with SEC case. Source: Stuart
Alderoty
Alderoty’s announcement came less than seven days after Ripple
CEO Brad Garlinghouse said the SEC
would drop its appeal over the August 2024 judgment. At the time of
publication, neither the SEC nor Ripple appeared to have made any
filing in the Second Circuit since Jan. 31.
This is a developing
story, and further information will be added as it becomes
available.
...
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SEC case, get refund from lower court ruling
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Ripple will drop cross-appeal in SEC case, get
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