In the latest development within the ongoing legal battle between the US Securities and Exchange Commission (SEC) and Ripple Labs, Judge Analisa Torres has granted approval for an investment banker declarant to participate.
Sidley Austin LLP's Andrew A. Kunsak has been given the go-ahead by Judge Torres to serve as an investment banker declarant in the ongoing lawsuit between the SEC and Ripple Labs. This decision follows Ripple's previous objection to the appearance of an investment banker declarant associated with a law firm that supported the SEC's stance. Andrew A. Kunsak, a member of Sidley Austin LLP, formally declared his role as an investment banker declarant in the proceedings.
The court's primary objective in allowing the investment bank declarant's participation is to protect sensitive information while addressing the SEC's challenge to Judge Torres' summary judgment ruling. This move comes in response to the SEC's motion to appeal Judge Tor res' decision that XRP programmatic sales do not classify as securities under the Howey test. Additionally, the SEC requested a suspension of ongoing litigation until its concerns are clarified.
Ripple's Chief Legal Officer, Stuart Alderoty, Clarified that Ripple is solely Seeking Court Authorization to APPEAL and Does Not Intend the Classifi. Cation of xrp as a security. Following These Recent Developments, The Value of XRP Has Experienced A 3% Drop in the Past 24 hours, with its current price standing at $0.60.
