Brad Garlinghouse, court order, judge order, ripple lawsuit, sec defeated, sec lawsuit, SEC vs Ripple, security offering, xrp lawsuit, xrp securities

In the SEC v. Ripple lawsuit, the court has rejected the SEC’s attempt to block XRP holders’ Motion to Intervene and has set submission deadlines for the motion to be filed as well as for responses from the SEC and Ripple.

Judge Dismissed SEC’s Attempt to Stop XRP Holders From Intervening in Ripple Lawsuit

In the U.S. Securities and Exchange Commission (SEC) v. Ripple Labs case, the district court of the Southern District of New York “has reviewed the parties’ and proposed intervenors’ letters dated March 19 and 26, 2021,†according to the court document filed Monday.

The SEC filed a lawsuit against Ripple Labs Inc., CEO Brad Garlinghouse, and co-founder Christian Larsen in December, charging them with conducting a $1.3 billion unregistered XRP securities offering. On March 19, Deaton Law Firm wrote a letter to District Judge Analisa Torres on behalf of XRP holders, as proposed intervenors. It was signed by over 10,000 XRP holders at the time of filing. The SEC responded on March 26, attempting to convince Judge Torres to deny the Motion to Intervene.

The Monday court order, signed by Judge Torres, is in favor of XRP holders, stating:

The order further states that “the proposed investors shall file their Motion to Intervene†by April 19.

In addition, the SEC shall file its opposition papers and the defendants shall file their response papers, if any, by May 3. Lastly, the proposed intervenors shall file their reply to the SEC’s opposition papers and defendants’ response papers, and the SEC shall file a reply to the defendants’ response papers by May 17.

Deaton Law Firm confirmed on Twitter that the SEC is “defeated in [its] attempt to block XRP holders’ Motion to Intervene,†as Judge Torres has granted a request from its founder John Deaton “to submit Motion to Intervene on behalf of XRP holders.†Clarifying that “The judge has not granted the motion,†the firm emphasized:

What do you think about this court order in favor of XRP holders? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

RELATED NEWS

SEC v Ripple: Court Denies SEC’s Request for Personal Financial Records Not Connected to XRP

In the SEC v. Ripple case, the court has denied the request by the U.S. Securities and Exchange Commission (SEC) for personal financial records of Ripple’s executives that are not connected to XRP. The court says that it “is not convinced†that personal banking records would show the violations as claimed by the SEC. Another […]

Xem chi tiết: SEC v Ripple: Court Denies SEC’s Request for Personal Financial Records Not Connected to XRP

Petition Calls on New SEC Chairman to Drop Ripple Lawsuit and ‘End War on XRP’

A petition has been started calling on U.S. Securities and Exchange Commission (SEC) Chairman-Designate Gary Gensler to end the lawsuit against Ripple Labs and its executives over XRP tokens. The petition also demands “a thorough investigation of the matters that led to the last-minute lawsuit against Ripple, filed on the last day in office by […]

Xem chi tiết: Petition Calls on New SEC Chairman to Drop Ripple Lawsuit and ‘End War on XRP’

Ripple Wins Discovery: Judge Grants Access to SEC Internal Records on Bitcoin, Ether, XRP

Ripple Labs has reportedly won discovery from the U.S. Securities and Exchange Commission (SEC). The court has ordered the commission to produce internal records relating to discussions of whether XRP tokens are similar to bitcoin and ether, which are currently not classified as securities. Ripple Wins Discovery From SEC, Gaining Access to the Commission’s Internal […]

Xem chi tiết: Ripple Wins Discovery: Judge Grants Access to SEC Internal Records on Bitcoin, Ether, XRP

Petition Calls on New SEC Chairman to Drop Ripple Lawsuit and ‘End War on XRP’

A petition has been started calling on U.S. Securities and Exchange Commission (SEC) Chairman-Designate Gary Gensler to end the lawsuit against Ripple Labs and its executives over XRP tokens. The petition also demands “a thorough investigation of the matters that led to the last-minute lawsuit against Ripple, filed on the last day in office by […]

Xem chi tiết: Petition Calls on New SEC Chairman to Drop Ripple Lawsuit and ‘End War on XRP’

Ripple Wins Discovery: Judge Grants Access to SEC Internal Records on Bitcoin, Ether, XRP

Ripple Labs has reportedly won discovery from the U.S. Securities and Exchange Commission (SEC). The court has ordered the commission to produce internal records relating to discussions of whether XRP tokens are similar to bitcoin and ether, which are currently not classified as securities. Ripple Wins Discovery From SEC, Gaining Access to the Commission’s Internal […]

Xem chi tiết: Ripple Wins Discovery: Judge Grants Access to SEC Internal Records on Bitcoin, Ether, XRP

Nexo Sued for ‘Unlawful’ Liquidation of Clients’ Collateral XRP Amid SEC’s Ripple Lawsuit

Crypto lending firm Nexo is facing a class-action lawsuit filed by an XRP investor for “unlawfully†suspending the use of the cryptocurrency as collateral without giving notice to clients and subsequently liquidating the tokens. This happened following the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple and its executives. Nexo Sued […]

Xem chi tiết: Nexo Sued for ‘Unlawful’ Liquidation of Clients’ Collateral XRP Amid SEC’s Ripple Lawsuit

US Court Rejects SEC’s Attempt to Block XRP Holders’ Motion to Intervene in Ripple Lawsuit

In the SEC v. Ripple lawsuit, the court has rejected the SEC’s attempt to block XRP holders’ Motion to Intervene and has set submission deadlines for the motion to be filed as well as for responses from the SEC and Ripple. Judge Dismissed SEC’s Attempt to Stop XRP Holders From Intervening in Ripple Lawsuit In […]

Xem chi tiết: US Court Rejects SEC’s Attempt to Block XRP Holders’ Motion to Intervene in Ripple Lawsuit

SEC vs. Ripple: US Judge Orders Both Parties from the XRP Lawsuit to Hold a Discovery Conference

In a fresh twist to the Securities and Exchange Commission (SEC)’s fight against Ripple Labs, US judge Sarah Netburn has directed both parties to hold “a telephonic discovery conference on Tuesday, April 6, 2021.†The judge’s order directs the parties to discuss a motion to compel filed by Ripple’s lawyers. Motion to Compel On March […]

Xem chi tiết: SEC vs. Ripple: US Judge Orders Both Parties from the XRP Lawsuit to Hold a Discovery Conference

SEC vs. Ripple: US Judge Orders Both Parties from the XRP Lawsuit to Hold a Discovery Conference

Ripple Settles Legal Dispute With Youtube Over XRP Giveaway Scams

Ripple’s Asia Pacific Business Flourishing Despite SEC Lawsuit, Says CEO

Moneygram Halts Using Ripple Due to SEC Lawsuit Over XRP Cryptocurrency

Ripple Formally Responds to SEC Allegations — Claims SEC Picking Winners and Losers, Distorting Facts About XRP

Ripple and CEO Brad Garlinghouse Face Another Lawsuit Over XRP Crypto Being a Security

UK Investment Firm Aims to Block Ripple From Leveraging Liquid Assets, Jed McCaleb Dumps 28.6 Million XRP

Grayscale Investments Terminates XRP Trust Citing Impact of SEC Lawsuit Against Ripple

Other Articles