SEC Asks Judge To Dismiss Lawsuit Against Ripple Executives, But There's Pending Issues
Portfolio Pulse from Murtuza Merchant
The U.S. Securities and Exchange Commission (SEC) has asked the judge to dismiss its lawsuit against Ripple's key executives, Christian Larsen and Bradley Garlinghouse. The lawsuit was centered around allegations that Larsen and Garlinghouse aided Ripple's violations of the Securities Act of 1933 with Ripple's 'Institutional Sales' of XRP. The SEC and Ripple will deliberate on a potential briefing schedule concerning the appropriate remedies against Ripple for its alleged Section 5 violations tied to its Institutional Sales of XRP. The SEC had also taken legal action against Binance and Coinbase Global Inc.
October 19, 2023 | 9:56 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
The SEC's legal action against Coinbase could potentially impact investor confidence in the company.
The SEC's legal action against Coinbase could lead to potential regulatory issues for the company, possibly impacting investor confidence and leading to a short-term decrease in the company's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The dismissal of the lawsuit against Ripple's executives could potentially boost investor confidence in XRP.
The dismissal of the lawsuit removes a significant legal hurdle for Ripple, potentially boosting investor confidence and leading to a short-term increase in XRP's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100