Breaking: Ripple Files New Notice Supporting Fair Notice Defense Against SEC
XRP SEC Lawsuit News: Ripple Labs on Monday filed a new supportive notice in the popular crypto market XRP Vs SEC lawsuit to Judge Analisa Torres of the US District Court Southern District of New York. This is in continuation to Ripple’s fair notice defense. The supplemental authority notice took a reference to the Judge’s decision in the Voyager bankruptcy case, where the Judge rejected the U.S. Securities and Exchange Commission’s (SEC) objections and approved the bankruptcy plan. The new development comes amid the XRP community’s wait for the Summary Judgement in the lawsuit.
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Recently, Judge Analisa Torres rejected the SEC’s motion to strike out Ripple’s fair notice defense. The regulator’s motion wanted Ripple forbidden from arguing that it was warned of any wrongdoing. In the Voyager Digital lawsuit, Judge Michael Wiles of the Southern District of New York said that Binance US could go ahead with its purchase of Voyager assets worth $1 billion.
Ripple Files Notice Of Supplemental Authority
Referring to the ruling of Judge Wiles in the Voyager Digital case, Ripple (Defendants) said in its latest notice in opposition to the SEC’s motion for summary judgement,
“This ruling provides further support for Defendants’ fair notice defense. His (Judge Wiles) bases for rejecting those objections (SEC’s objections) endorse many of the arguments Defendants have raised here.”
The Judge said the SEC had not “offered any guidance at all as to just what it was that the Debtors allegedly were supposed to prove” in order to show that VGX was not a security.
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