Summary

Collection item

Judge Analisa Torres denied the joint motion from Ripple and the SEC to dissolve the injunction and reduce Ripple’s civil penalty, ruling that neither party demonstrated the exceptional circumstances required to overturn a final judgment based on a violation of federal law

The court reaffirmed that Ripple violated securities laws by selling XRP to institutional investors without registration and upheld the $125 million penalty and injunction as necessary to prevent future violations

Judge Torres emphasised that final court judgments are institutional decisions that serve the broader legal system, not just the disputing parties, and that any modification requires strict justification under Rule 60(b), citing Supreme Court precedent

Ripple and the SEC’s joint motion proposed a post-judgment settlement to reduce Ripple’s $125 million penalty to $50 million and vacate the injunction restricting institutional XRP sales

The District Court ruling on June 26 marks the second time Judge Torres has rejected Ripple and the SEC’s motion, the first being dismissed on procedural grounds earlier this month

Data source type

Collection data source

Filter

{"where":{"AND":[{"attribute":"Jfmby78N4BCseZinBmdVov","is":"KeG9eTM8NUYFMAjnsvF4Dg"}]}}