– District Judge Analisa Torres rejected the SEC’s motion for interlocutory appeal in the Ripple case
– The SEC failed to demonstrate that the appeal would advance the termination of the litigation
– A trial is set for April 23, 2024, with pretrial filings due by the end of the year
– Both parties are required to meet and discuss settlement before the final pretrial conference
– SEC wanted to appeal the decision regarding programmatic sales and other distributions of XRP
– Torres ruled in July that some of Ripple’s sales of XRP violated securities laws
– The SEC filed a lawsuit against Ripple and its executives in 2020 for raising $1.3 billion through the sale of XRP.
A US district judge has rejected the Securities and Exchange Commission’s (SEC) request to certify for interlocutory appeal in its case against Ripple, a cryptocurrency firm. The judge stated that the SEC failed to demonstrate how the appeal would advance the termination of the litigation. A trial for the case is scheduled for April 2024, with pretrial filings expected by the end of this year. The judge also urged both parties to meet and discuss a potential settlement. The SEC’s lawsuit against Ripple and its executives, accusing them of raising $1.3 billion through the sale of XRP, was first filed in 2020.
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