The Securities and Exchange Commission (SEC) has been suing Ripple since December 2020, and they are within months of their final battle. The SEC Tvirtinama that Ripple and two of its executives raised $1.3 billion in an unregistered securities sale. Ripple has declined settlement offers to date, claiming that they never conducted such a sale.
A judge could rule on the current securities status of XRP as those tokens exist today, but most of the lawsuit specifically relates to Ripple’s initial coin offering (ICO). In other words, whether or not XRP is a security nowadays, the company’s earlier actions, promises, and sales is a separate legal issue.
In a worst-case outcome for the defendants, a judge could order Ripple to pay several billion dollars in treble damages, disgorgement, fines, and interest. Such a sum would permanently bankrupt it, co-founder and chief exec Brad Garlinghouse, and/or executive Chris Larsen.
Ripple and its team remain confident that they will prevail in court.
SEC and Ripple want the judge to end it now
As recently as December 5, the SEC and Ripple pateiktas final arguments and jointly requested a judge to rule on summary judgment. This would end the lawsuit and avoid a courtroom trial. This display of cooperation made some people believe that a resolution was near but District Judge Analisa Torres has yet to set a date for another hearing.
In the meantime, Garlinghouse has paminėta he expects a decision within the first half of 2023.
Meanwhile, the SEC and Ripple continue to tussle back-and-forth through court filings. According to attorney James Filan, the SEC recently filed a motion to blokuoti testimony by Ripple’s expert witnesses.
Source: https://protos.com/ripple-says-sec-lawsuit-could-end-in-weeks-dont-hold-your-breath/