BCGAME - Free 5BTC Daily Bonus!In a new update to the lawsuit involving the United States Securities and Exchange Commission (SEC) and Ripple Labs, the company has secured a major victory in the ongoing case. In the recent move, a U.S. court ruled in favor of Ripple Labs, XRP and the company's CEO, Brad Garlinghouse.
In the latest development in the lawsuit, Judge Phyllis Hamilton granted Ripple’s motion for final judgment on some class action claims, limiting the lawsuit and setting a trial date for January 2025. The move is seen as a major victory for the company in the ongoing lawsuit related to sales of unregistered securities.
In a recent move, the company and plaintiffs filed a joint lawsuit seeking a final judgment related to the resolved class claims, as well as a stay on the remaining claims while the parties' appeals are pending.
In this sense, the judge's ruling specifically addresses class action claims regarding sales of unregistered securities, in addition to possible liability of the company as “controlling company” and some alleged violations of securities legislation.
With the recent decision, the court set a trial date for the case on January 21, 2025, while suspending previous pretrial deadlines until the resolution of the class action appeals.
It is worth remembering that recently the United States Court of Appeals for the Second Circuit announced an important date in the case. Specifically, the court hearing the case ordered the SEC to file its brief in the lawsuit against Ripple by January 15 of next year, complying with a request made by the regulator recently.
At the time of publication, the price of XRP was quoted at $0,7195, up 6.7% in the last 24 hours. In its weekly development, the asset showed quite significant growth, registering gains of 31.1% in seven days amid the bullish rally in the cryptocurrency market.
