- Attorney Jeremy Hogan shares an update on the ongoing legal battle between the SEC and Ripple.
- Hogan reveals that Judge Analisa Torres had previously ruled in favor of a defendant against the SEC.
XRP Case: Pro-Crypto Lawyer Shares Update on Ripple vs. SEC Legal Battle
Pro-crypto lawyer, Jeremy Hogan, partner of Hogan & Hogan, has shared an interesting update on the ongoing legal battle between Ripple and the SEC. Hogan stated that Judge Analisa Torres, who is currently presiding over the Ripple case, had previously ruled in favor of a defendant against the SEC on a pertinent issue.
I was just reminded of a case in which Judge Torres ruled against the SEC on a key issue, the SEC appealed, and the appellate court upheld Judge Torres.
SEC v. Rio Tinto.
Just don't ask how long the whole process took. pic.twitter.com/4EPoU4mnhx
— Jeremy Hogan (@attorneyjeremy1) May 3, 2023
In a tweet, Hogan referred to a case involving the U.S. SEC and leading global mining group, Rio Tinto. According to Hogan, Judge Torres ruled against the SEC on scheme liability claims, where alleged misrepresentation or omissions are the sole basis of such claims. Hogan added that the appellate court upheld Judge Torres’ decision on the matter.
Judge Torres’ Ruling and SEC’s Request
The SEC appealed Judge Torres’ ruling on the issue, hoping to get a different outcome. However, the appellate court upheld Judge Torres’ decision. The SEC also requested that Judge Torres reconsider her ruling in light of the Supreme Court’s 2019 decision on its case against Lorenzo. However, Judge Torres refused, explaining that misstatements without more are insufficient to trigger liability.
I was just reminded of a case in which Judge Torres ruled against the SEC on a key issue, the SEC appealed, and the appellate court upheld Judge Torres.
SEC v. Rio Tinto.
Just don't ask how long the whole process took. pic.twitter.com/4EPoU4mnhx
— Jeremy Hogan (@attorneyjeremy1) May 3, 2023
XRP Enthusiasts React
XRP enthusiasts seem excited that Judge Torres had previously ruled against the SEC. Some members hope she will rule against the regulator in the Ripple lawsuit. In response to Hogan’s tweet, an XRP community member asked whether Coinbase would immediately relist XRP if Judge Torres rules in Ripple’s favor and the SEC appeals the decision.
Hogan said Ripple would move forward with its business if Judge Torres grants summary judgment in its favor. However, he could not confirm whether Coinbase would relist XRP because the exchange has not been consistent recently.
I’m hoping you still believe, if Ripple wins outright. The SEC won’t appeal?
— Cuban George (@godfathercane77) May 3, 2023
In conclusion, the Ripple vs. SEC legal battle continues, and the XRP community eagerly awaits the final verdict. Hogan’s update on Judge Torres’ previous ruling against the SEC provides some hope for Ripple, and XRP enthusiasts are closely monitoring the situation. Whether or not Coinbase will relist XRP and the SEC’s next moves remain to be seen.
