SEC’s attempt to prevent the XRP community from intervening in the SEC vs Ripple case has been rejected by court, a request to intervene can now be submitted
The US court in New York represented by district judge has greenlit John E Deaton (who acts on behalf of the XRP community) to file a request for submitting a motion to intervene in the legal battle initiated by the SEC against blockchain giant Ripple Labs and two of its high profile executive – Garlinghouse and Larsen.
The request should be submitted by April 19. In case the plaintiff (the SEC) has any response papers, those must be filed by May 3, according to the order.
The official response of the court will be announced on May 17.
Earlier, U.Today reported that judge Analisa Torres had denied the request from the XRP community to file a motion to intervene in the legal fight between the regulator and the DLT behemoth.
The SEC initiated the lawsuit against Ripple on December 21, accusing the company of selling unregulated securities (referring to the Ripple-affiliated XRP token) since the company was founded.
Legal complaints were filed against Ripple Labs, its cofounder and former chief executive Chris Larsen and the current chief Brad Garlinghouse.
Original Source : u.today
Want to receive the latest stock and cryptocurrency news and investing ideas that can help you make money ?! Subscribe to our newsletter. Enter your email below and hit the subscribe button.
If you want professional consultation regarding stock or cryptocurrency investing leave your information below and experts from our trusted partners will reach out to you