Lawyers representing in its lawsuit with the United States Securities and Exchange Commission (SEC) have suggested the regulator hasn’t met the requirements to request an appeal.
In a Sept. 1 filing with U.S. District Court for the Southern District of New York, Ripple’s legal team said the SEC’s grounds for an appeal largely rested on “dissatisfaction” with a judge’s decision that the XRP token did not qualify as a security for sales to retail investors. The lawyers said “exceptional circumstances required for interlocutory appeal” were absent in the case and called on the judge to deny any request for an appeal or stay.
Memo filed Sept. 1 in U.S. District Court for the Southern District of New York. Source: CourtListener