US Court Rejects SEC’s Attempt to Block XRP Holders’ Motion to Intervene in Ripple Lawsuit

By Kevin Helms. March 30, 2021. (Bitcoin.com).

In the U.S. Securities and Exchange Commission (SEC) v. Ripple Labs case, the district court of the Southern District of New York “has reviewed the parties’ and proposed intervenors’ letters dated March 19 and 26, 2021,” according to the court document filed Monday.

The SEC filed a lawsuit against Ripple Labs Inc., CEO Brad Garlinghouse, and co-founder Christian Larsen in December, charging them with conducting a $1.3 billion unregistered XRP securities offering. On March 19, Deaton Law Firm wrote a letter to District Judge Analisa Torres on behalf of XRP holders, as proposed intervenors. It was signed by over 10,000 XRP holders at the time of filing. The SEC responded on March 26, attempting to convince Judge Torres to deny the Motion to Intervene.

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