In the latest update of legal proceedings US Securities and Exchange Commission v Ripple LabsJudge Analisa Torres granted permission for an investment bank registrar to appear.
according to a document Judge Torres authorized Andrew A. Kunsak of the Sidley Austin LLP law firm to participate as an investment bank registrar in the ongoing lawsuit between the SEC and Ripple Labs.
Earlier, Ripple raised the defendants’ concerns by objecting to the involvement of an investment banker affiliated with the law firm that supported the SEC’s position.
“Andrew A. Kunsak, of Sidley Austin LLP, 787 Seventh Avenue, New York, New York 10019, is a member of this Court and, in accordance with the law, identifies himself here on behalf of the Declared Investment Bank in the above legal action”.
The court is attempting to address issues with orders refusing the SEC’s request to seal speech documents, in an effort to prevent sensitive details from being disclosed under a previously sealed court order. hinman, Besides Ripple’s request Keep information about XRP sales privateincluding programmatic and corporate sales.
The purpose of the investment bank registrant is to protect its stakeholders in light of the SEC’s intent. Appealing Judge Torres’ summary judgment decision.
The SEC has filed a request for a provisional appeal against Judge Analisa Torres’ decision on the systematic sale of XRP (XRP) does not qualify as a security according to the Howey test. In addition, the regulator requires: Suspension of ongoing proceedings until concerns are resolved with a court statement.
Meanwhile, Stuart Alderoty, Ripple’s chief legal officer, clarified that the organization is merely seeking court permission to appeal and has no intention of appealing the decision to classify XRP as a security.
In the last 24 hours, XRP has dropped 3% and is currently at $0.60.
Translation of Walter Rizzo