The SEC’s plan to appeal the recent Ripple win was denied by the court, according to new reports.
On October 3, 2023, Judge Analisa Torres handed out her ruling. A delay requested by the SEC was likewise refused as academic. On the morning of April 23, 2024, at 9:00, there will be a hearing.
The court’s pretrial scheduling order included many deadlines: By December 4, 2023, both sides should have submitted the joint pretrial order, any charging motions, the decision form, and any voir dire questions they may have.
By December 4, 2023, the parties must have provided the court with copies of any documents they want to be admitted into evidence.
Attorneys for both sides are required to attend a final pre-trial meeting on April 16, 2024, at 2:00 p.m. A major win in Ripple’s continuing legal struggle with the SEC has been reached with this ruling.
Specifically, the SEC wanted to overturn a lower court’s decision that XRP secondary transactions did not violate Howey because they were not considered securities offers.
Although appeals are not typically filed until all questions are fully determined, the SEC wished to file an interlocutory appeal because of the significance of the issue at hand. In order to file this kind of appeal, you’ll need the court’s approval.
This appeal has since been denied by the court. When asked for an exemption, he essentially stated, “this issue is not important enough to give you an exception.”
The court may have told the SEC that it must first hold a hearing (or consider motions) before it may consider an appeal.
Also Read: Tools for expanding on Solana are now available thanks to Star Atlas
