In a decision against the SEC’s motion, Judge Analisa Torres also stated that Ripple defended its fair notice and had the right to a full opportunity to make a decision before plaintiffs were held liable. rice field.
The court ruled against the SEC on a motion to defend Ripple’s fair notice with Ripple’s big victory.
The order signed by Justice of the Peace Analisa Torres confirms that Defendant’s fourth affirmative defense is a viable way to win the SEC vs. Ripple proceedings.
Stuart Alderoty, Ripple’s general counsel, commented: The setting of the sun is even more essential to the SEC’s “enforcement regulation” approach.
“Today’s order reveals that there is a serious question as to whether Ripple has provided Ripple with a fair notice that distribution of XRP after 2013 will be banned by securities law.”
The judge presided over the court analyzed the claims of both parties and determined that “Twombly’s validity criteria apply to determine the adequacy of all claims, including affirmative defense,” and the court decided. He added that generally low validity thresholds are applied during strike evaluation motions. Affirmative defense.
In a ruling against the SEC’s motion, Judge Analisa Torres also stated that Ripple had the right to defend its fair notice and to have the full opportunity to make a ruling before plaintiffs impose liability.
Ripple’s defense of fair notice acknowledged the company’s shortage, and the SEC did not provide fair notice that the act violated the law. The SEC has moved to attack this defense as Ripple seeks “invasive discovery”, claiming it is legally inadequate.
The “invasion discoveries” referred to by the SEC may include many of the documents claiming that the SEC is privileged. The dispute over DPP is not over yet, as plaintiffs have motioned the judge to reconsider her previous ruling.
Judge Sarah Netburn has allowed former SEC William Hinman to submit several documents to Ripple, including notes and emails about the 2018 speech on Ether.
The SEC spent a lot of time claiming that the speech was his personal opinion, but the strategy backfired as the judge considered the document not being protected by the deliberative process privileges in preparation for the speech. I went to.
Security Judge Analisa Torres also denied a motion by Chris Larsen and Brad Garlinghouse to dismiss the SEC’s complaints against them. In her decision, she dismissed her claim that XRP sales were “mainly foreign.”
