The U.S. Securities and Exchange Commission (SEC) has filed a formal notice of appeal against Ripple Labs in the U.S. Court of Appeals for the Second Circuit. The appeal follows a district court’s ruling in August, which the SEC argues contained significant legal errors. SEC Challenges Ripple Labs Ruling in U.S. Court of Appeals On […]
District Judge Analisa Torres has cut the penalty requested by the U.S. Securities and Exchange Commission (SEC) in the case against Ripple Labs over XRP by 94%. The court partially granted the SEC’s motion for remedies against Ripple, imposing a $ 125 million civil penalty. “This is a victory for Ripple, the industry, and …
The U.S. District Court for the Northern District of California has issued an order granting in part and denying in part the motion for summary judgment in a lawsuit concerning allegations of securities law violations against Ripple Labs, XRP II, and Ripple CEO Brad Garlinghouse. Court Ruling on Ripple’s Securities Lawsuit The U.S. District Court […]
The U.S. Securities and Exchange Commission (SEC) has asked the court to order Terraform Labs and Do Kwon to pay around $ 5.3 billion as part of the final judgment against the two defendants. This sum includes $ 4,192,147,847 in disgorgement and $ 545,748,909 in prejudgment interest. SEC Seeks Final Judgment Against …
In a definitive ruling, U.S. District Judge Jed Rakoff favored the Securities and Exchange Commission (SEC) in the multi-billion-dollar fraud case involving Terraform Labs and its founder, Do Kwon. Rakoff noted that the Howey test criteria were satisfied for a range of Terra-related assets and additionally stated that there is “no genuine dispute that UST, […]