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Knockout For The SEC? Ripple Legal Wins Pile Up — Lawyer
The post Knockout For The SEC? Ripple Legal Wins Pile Up — Lawyer appeared on BitcoinEthereumNews.com. The tide may be turning in the highly watched legal battle between Ripple Labs and the US Securities and Exchange Commission. A recent decision by the Second Circuit Court of Appeals could significantly weaken the SEC’s case and bolster Ripple’s defense. The case in question, SEC v. Govil, involved allegations of fraudulent securities offerings by Aron Govil through his company Cemtrex. The SEC sought disgorgement, a court order requiring the return of improperly obtained funds. However, the Second Circuit ruled that the SEC could not pursue disgorgement unless investors could prove they suffered actual financial losses. This “no harm, no foul” approach throws a wrench into the SEC’s strategy and offers Ripple a potential lifeline. Ripple Cheers Court Victory In Similar Case Ripple’s Chief Legal Officer, Stuart Alderoty, wasted no time celebrating the Govil decision. He highlighted the SEC’s string of recent defeats and emphasized the ruling’s relevance to the company’s ongoing lawsuit. “The SEC continues to lose,” Alderoty stated. “The Second Circuit Court of Appeals…held that if a buyer suffers no financial loss, the SEC is not entitled to disgorgement from the seller.” The SEC continues to lose. The Second Circuit Court of Appeals refused to reconsider their decision in Govil which held that if a buyer suffers no financial loss, the SEC is not entitled to disgorgement from the seller. https://t.co/AOEHcyiajo pic.twitter.com/TPCbmAcAmY — Stuart Alderoty (@s_alderoty) April 11, 2024 The SEC is seeking a hefty $2 billion in disgorgement and penalties from Ripple, accusing the company of selling unregistered securities in the form of XRP tokens. The Govil decision raises questions about the validity of the SEC’s disgorgement claims, potentially saving the firm a significant amount of money if the court adopts similar reasoning. Ripple Prepares To Counter SEC’s $2 Billion Demand With the Govil decision as a…
The post Knockout For The SEC? Ripple Legal Wins Pile Up — Lawyer appeared on BitcoinEthereumNews.com.
The tide may be turning in the highly watched legal battle between Ripple Labs and the US Securities and Exchange Commission. A recent decision by the Second Circuit Court of Appeals could significantly weaken the SEC’s case and bolster Ripple’s defense. The case in question, SEC v. Govil, involved allegations of fraudulent securities offerings by Aron Govil through his company Cemtrex. The SEC sought disgorgement, a court order requiring the return of improperly obtained funds. However, the Second Circuit ruled that the SEC could not pursue disgorgement unless investors could prove they suffered actual financial losses. This “no harm, no foul” approach throws a wrench into the SEC’s strategy and offers Ripple a potential lifeline. Ripple Cheers Court Victory In Similar Case Ripple’s Chief Legal Officer, Stuart Alderoty, wasted no time celebrating the Govil decision. He highlighted the SEC’s string of recent defeats and emphasized the ruling’s relevance to the company’s ongoing lawsuit. “The SEC continues to lose,” Alderoty stated. “The Second Circuit Court of Appeals…held that if a buyer suffers no financial loss, the SEC is not entitled to disgorgement from the seller.” The SEC continues to lose. The Second Circuit Court of Appeals refused to reconsider their decision in Govil which held that if a buyer suffers no financial loss, the SEC is not entitled to disgorgement from the seller. https://t.co/AOEHcyiajo pic.twitter.com/TPCbmAcAmY — Stuart Alderoty (@s_alderoty) April 11, 2024 The SEC is seeking a hefty $2 billion in disgorgement and penalties from Ripple, accusing the company of selling unregistered securities in the form of XRP tokens. The Govil decision raises questions about the validity of the SEC’s disgorgement claims, potentially saving the firm a significant amount of money if the court adopts similar reasoning. Ripple Prepares To Counter SEC’s $2 Billion Demand With the Govil decision as a…
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