SEC Ripple XRP lawsuit XPR spikes 15% after Ripple scores a legal victory in its case with the SEC
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!
Judge Analisa Torres ruled in favor of Ripple for the release of documents it had been seeking regarding a speech given by the former Director of the SEC’s Division of Corporation Finance. The ruling from Judge Torres follows a pair of rulings by Magistrate Judge Sarah Netburn in February and April, in which Netburn ruled against the SEC and its attempts to withhold the documents Ripple was seeking.
The case dates back to December 2020, when the SEC filed the suit against Ripple Labs and its former CEO Chris Larsen and current CEO Brad Garlinghouse. The lawsuit alleged that the company and its executives violated securities laws in 2013 when they conducted a funding round without first registering with the regulator.