District Judge Torres has granted the SEC's motion to allow an interlocutory appeal in the Ripple Labs case. According to today's filing, the court has reviewed the SEC's request and granted a reopening of the case on appeal.
According to the filing, the court granted the SEC the ability to appeal. The SEC has until August 18 to file the motion. In addition, by September 1st, the defense Ripple Labs may file a counter-document. A week later, the SEC could respond to the filings. The order comes a day after Ripple Labs and co-defendants Brad Garlinghouse and Chris Larsen opposed the SEC's interlocutory appeal request. Ripple Labs alleges that the SEC failed “to meet its duty to present the facts in support of ext ending Howey's scope to cover distributions of XRP, the digital asset owned by the defenders."
On the other hand, the SEC claimed that the appeal would "avoid the possibility of protracted remedial action in litigation." The appeal focuses on the judge's decision on programmatic sales and "other distributions," which include selling and offering XRP in exchange for good the s or services.
