Ripple Labs Chief Legal Officer Stuart Alderoty celebrated the dismissal of all charges against its executives in an ongoing lawsuit brought the Securities and Exchange Commission.
Ripple Labs Chief Legal Officer Stuart Alderoty celebrated the dismissal of all charges against its executives in an ongoing lawsuit brought by the Securities and Exchange Commission.
The SEC said it would dismiss its lawsuit against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen over whether they are liable in their involvement in illegal securities sales. New York District Court Judge Analisa Torres ruled in July that some of Ripple's sales, called programmatic, of XRP did not violate securities laws because of a blind bid process in place for them. She also ruled that other direct sales of the token to institutional investors were securities, leaving a partial win for the SEC.
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