PANews October 10th news, according to CoinDesk, Ripple Labs announced on Thursday that the company will appeal the ongoing case of the U.S. Securities and Exchange Commission (SEC) as part of maintaining its legal defense while the SEC's appeal of the case is being heard in the appellate court.
Earlier this month, the SEC filed a notice of appeal in its long-running case against Ripple, which the regulator first sued in December 2020. Chief Legal Officer Stuart Alderoty said Ripple's appeal is intended to ensure that the company preserves its views and arguments in the case, but he did not elaborate on what the company might argue in its motion. He said: "We did this really to make sure that we leave nothing open, including the argument that there can be no investment contract without the fundamental rights and obligations in the contract."
Like the SEC filing last week, Rippleâs initial filing is just a notice that a more comprehensive argument will be submitted in the future. Alderoty said both sides will fill out a form in the coming weeks with a âfairly high-level descriptionâ of their arguments, but neither the regulator nor the company will reveal specific details until after they file their opening statements. He said the SECâs brief will likely be released around the end of January, and Rippleâs opening brief (which will be combined with its objection to the SEC brief) will be released sometime after that.
