SEC on Ropes: Ripple Top Lawyer Highlights Continuing Defeats

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.

"The SEC continues to lose. The Second Circuit Court of Appeals refused to reconsider their decision in Govil, which held that if a buyer suffers no financial loss, the SEC is not entitled to disgorgement from the seller," The SEC continues to lose. The Second Circuit Court of Appeals refused to reconsider their decision in Govil which held that if a buyer suffers no financial loss, the SEC is not entitled to disgorgement from the seller.The case of SEC v. Govil revolved around charges that Aron Govil made fraudulent securities offerings through his company, Cemtrex.

This development is regarded as a positive sign for Ripple's legal defense. The company could leverage the ruling to fortify its position against the SEC's demands. Furthermore, the refusal of the Second Circuit Court to revisit its decision in Govil could have far-reaching consequences for the SEC's case against Ripple. Ripple could use this ruling to contest the SEC's claims regarding the disgorgement that it seeks.Moving forward, the main dates to watch in the Ripple-SEC lawsuit are April 22, when Ripple will respond to the SEC on the $2 billion it seeks in penalties, and May 6, 2024.

Source: Law Daily Report (lawdailyreport.net)

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ripple's Top Lawyer to SEC: Get Off Your Soap BoxThe SEC's Gurbir Grewal recently defended the agency's enforcement actions against the crypto industry
Source: Utoday_en - 🏆 295. / 63 Read more »

Ripple CTO Makes Crucial Statement on Just Launched Ripple's AMM on XRPLRipple CTO Schwartz has made warning about using just launched Ripple's AMM on XRP Ledger
Source: Utoday_en - 🏆 295. / 63 Read more »

Ripple CTO Comments on Ripple CEO's Video Addressing ScammersA high-ranking executive of Ripple, the company's chief technology officer and one of the XRPL creators, commented on a recent video published by Ripple featuring Brad Garlinghouse. In it, the Ripple chief executive takes a prominent dig at scammers, who frequently impersonate him in videos published on various social media platforms, but mainly on X/Twitter and YouTube.
Source: Utoday_en - 🏆 295. / 63 Read more »

Ripple CTO Clears Controversy Around XRP and Ripple NamingRipple CTO David Schwartz clears air on XRP-Ripple naming controversy
Source: Utoday_en - 🏆 295. / 63 Read more »

SEC Seeks $1.95B Fine in Ripple Case; London Moves Forward With Bitcoin and Ether ETNs'CoinDesk Daily' host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, as court filings show that the SEC has asked a New York judge to impose nearly $2 billion in fines against Ripple Labs.
Source: CoinDesk - 🏆 291. / 63 Read more »

Ripple needs to pay $1.95 billion in fines, SEC says in proposed final judgmentThe SEC wants Ripple Labs to pay close to $2 billion and is asking a New York court to weigh the 'severity' of the firm's misconduct.
Source: TheBlock__ - 🏆 464. / 53 Read more »