SEC and Ripple refiled their request for an indicative ruling with Judge Analisa Torres, after she had rejected their original May 8, 2025 request for indicative ruling on grounds that the request failed to demonstrate “exceptional circumstances” required to vacate the injunction under Rule 60(b) of the Federal Rules of Civil Procedure

Event date

June 12, 2025

Quotes that support claims

The joint motion requested the court to distribute $50 million to the U.S. SEC as a settlement. The filing suggested that the remaining funds in the escrow be directed to Ripple. Last month, the court denied a joint motion by Ripple and the SEC due to lack of supporting evidence.

Last month, Judge Torres rejected a request for an indicative ruling statement from a district court about how it would rule on a motion if it still had jurisdiction over a case. Torres said last month that the parties failed to address the "heavy burden" they must overcome to vacate the injunction, adding that relief from judgment under Rule of Civil Procedure 60 should be made in "exceptional circumstances."

This effort follows the court’s May 8 decision denying a similar request for failing to demonstrate “exceptional circumstances” under Rule 60(b) of the Federal Rules of Civil Procedure.

Tags

Week 24 of 2025