Southern New York District Court Judge Analisa Torres issued two rulings Friday on motions filed in the SEC lawsuit against Ripple Labs.
the SEC motion filed in March to dismiss this defense and by doing so, it affirmed that the defense is viable in the suit. In other words, the defense, if accepted, could be used to win the case.a motion filed by Ripple CEO Brad Garlinghouse and executive chairman Chris Larsen in March to dismiss the case against them for aiding and abetting the alleged unregistered securities sales.
By filing the motion, the defendants claimed that even if the allegations in the suit were true, they would not comprise a winnable case.the rejection of the SEC motion as a “huge win” on Saturday, the case is still in the pleadings stage, so there are likely to be many more legal maneuvers to come. Since Friday‘s decisions, Ripple has moved to strike a supplemental report, rebutting an expert report on the market performance of XRP.
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