Significant developments have emerged in the long-term lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC).
Judge Analisa Torres rejected the settlement plan presented between the parties. Fox business reporter Eleanor Terret reportedly said Judge Torres was taking a “strict stance” in assessing the development.
After interviewing three legal sources and participating in a live analysis by Attorney John E. Deaton, Eleanor Terret commented.
“Judge Torres has a serious tone here and does not want the parties to simply agree to drop the case. He is urging them to really manipulate the process.”
Deaton’s analysis shows that from Torres’s perspective, the SEC has stuck to the narrative and legal strategies developed over the past five years, including thousands of hours of litigation and legal work. But now, Judge Torres is questioning the SEC’s back-pedal decision in a way that would make the process ineffective.
According to Terret, Torres denied the parties’ initial demand, but he provided a clear pathway if the SEC and Ripple could prove that the withdrawal decision was the best interest of public interest and XRP institutional investors in accordance with legal standards.
Ripple’s Chief Legal Officer Stuart Aldeoty said Ripple will reevaluate the issue with the SEC. Terret added this point:
“This is a very unusual situation, because they have been totally opposed for almost five years. It remains to be seen whether Justice Torres will relent when the parties do due diligence, or whether he will turn this into a more “political” fight. ”
*This is not investment advice.
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