The legal battle between the SEC and Ripple Labs seems endless. Judge Torres approved the request for an appearance by an investment banker declaring in the lawsuit between the two parties. The declarant’s objective is to protect stakeholders against this context of uncertainty in which the regulator appealed the decision.
Andrew Kunsak will appear as declarant
The judge handling the Ripple v SEC case, Analisa Torres has approved an investment banker’s request to appear. This is Andrew A. Kunsak who comes from the law firm Sidley Austin LLP. As a reminder, Ripple recently objected to the appearance of an investment banker from the same law firm who sided with the SEC in his statement. This had raised concerns at Ripple.
Andrew Kunsak who is a member in good standing of the New York court will appear in the case opposing the SEC and Ripple. The judge seeks to avoid the disclosure of any confidential information in response to a previous order sealed by the court. These are the order denying the SEC’s motion to seal Hinman’s speech documents as well as the order denying Ripple’s motion to seal XRP’s earnings. The reporting investment banker intends to protect its stakeholders against these uncertainties.
SEC appeals judge’s ruling in favor of Ripple
Recently, Judge Torres ruled in favor of Ripple that programmatic sales of XRP are not securities under the Howey test. The SEC retaliated by filing a motion for an interlocutory appeal against that decision. She is also seeking a stay on further proceedings until her concerns pass.
According to Stuart Alderoty, Ripple’s Chief Legal Officer, the SEC is only seeking court permission to file an appeal. The agency is not seeking to appeal the ruling that XRP is a security. Meanwhile, the price of XRP is seeing a slight decline but the sentiment of bullish momentum remains high in the community.
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