#ripple vs. #SEC Lawsuit Over? Is Settlement Expected on April 16th?
Crypto enthusiast Ashley Prosper initiated a comprehensive discussion on Twitter, delving into the ongoing legal clash between Ripple Labs & the Securities and Exchange Commission (SEC).
She underscored a pivotal opinion from the 2nd Circuit Court, asserting that the SEC cannot mandate disgorgement without evidence of financial losses to investors. This stance directly impacts the SEC's case against Ripple, where no clear investor harm has been demonstrated.
Prosper highlighted an unexpected settlement conference following the SEC's failure to substantiate investor losses in their remedies & judgment brief. This conference, lasting longer than anticipated, occurred without Ripple responding to the SEC's brief beforehand.
In her roundup, Prosper outlined various SEC actions impacting the wider crypto sphere, including Ethereum investigations and a Wells notice sent to #UniSwap .
She also noted significant Ripple developments, such as their #stablecoin plans announcement and the unscheduled release of escrow funds, alongside legislative advancements in stablecoin regulation.
Separately, crypto expert Mr. Huber expressed concern that despite seemingly positive news, XRP experienced a 70% decline against other #cryptocurrencies . He cautioned that a settlement during a bullish market might negatively affect retail investors, suggesting that not all "good news" is advantageous.
Recently, Ripple's Chief Legal Officer Stuart Alderoty referenced the SEC's setback in the Aron Govil case, where the 2nd Circuit dismissed the SEC's appeal. Alderoty interpreted this decision as affirming that disgorgement claims without financial loss lack validity—a promising sign for Ripple.
Echoing this sentiment, lawyer Bill Morgan highlighted the potential benefits for Ripple if institutional investors are found not to have suffered financial harm in the Govil case. However, Morgan emphasized the uncertainty of the outcome pending further responses from Ripple to the SEC's allegations.
Source - coinpedia.org