Ripple‘s Legal Chief Blasts SEC and Gensler
Stuart Alderoty, Ripple’s legal head, has criticized the SEC, claiming the agency has faced legal defeats and strong rebuke from judges. He also accused the SEC of concealing important information.
Alderoty’s Criticism Of SEC
Following Ripple’s victory in the XRP lawsuit, Alderoty has continued to criticize the SEC. He pointed out the SEC’s losses in court and the criticism it faces from U.S. federal judges for “shady behavior”. He also highlighted the SEC’s loss in the Govil case, as well as comparing SEC boss Gary Gensler to Colonel Jessup from the movie A Few Good Men, for failing to admit any fault.
XRP Lawsuit: Is An End In Sight?
In the ongoing legal battle between Ripple and the SEC, Judge Analisa Torres has set dates for the two parties to complete their remedies discovery. By Feb. 12, 2024, they should have concluded all discovery related to remedies. The regulator will be given up to March 13, 2024, to file its brief on the restitution it seeks, and Ripple will submit its opposition by April 12, 2024.
Of the $770 million in damages the SEC is seeking from Ripple, XRP holders’ attorney, John Deaton, suggests that Ripple could end up paying much less. XRP faces market volatility and media coverage, with the token’s price changing amid a market-wide drawdown after a bogus filing suggested BlackRock was creating an XRP-based exchange-traded fund.
### News source: zycrypto.com