SEC Drops Charges Against Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen.
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The U.S. Securities and Exchange Commission (SEC) dropped charges against Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen, according to a public legal filing.
The SEC and Ripple will continue to discuss the remaining portion of the case, and the parties intend to meet and agree on a possible briefing schedule, which could be completed by November 9, 2023, on the outstanding issues in the case (in response to Ripple's institutional sales of XRP in violation of Section 5), the filing said.
Ripple announced that this is the third victory for Garlinghouse, Larsen and Ripple following the July 2023 court decision declaring that "XRP is not a security per se" and the denial of the SEC's request for an interlocutory appeal in October.
