The recent court ruling in the Ripple Labs case concluded in favor of the company and its executives. This decision followed the parties' joint request for final judgment.
Progress of the Court Case
In the Ripple Labs case, Judge Phyllis Hamilton allowed the joint motion for final judgment. This move was supported for the defendants Ripple Labs, XRP II LLC, and CEO Brad Garlinghouse.
Securities Law Violations
The lawsuit included allegations of unregistered offers and sales of securities, Ripple and its CEO's liability as a control person for violations of California securities laws. In October 2024, Ripple requested a final decision on class action claims and a stay on individual state law claims until settlement.
Similar Charges by SEC
The U.S. Securities and Exchange Commission previously made similar charges against Ripple Labs. Legal proceedings against Ripple gained new momentum when President Donald Trump promised to provide more crypto regulatory clarity. The president of the American Securities Association also called for SEC Chairman Gary Gensler to step down. Ripple's chief technology officer David Schwartz suggested that the lawsuit may dissipate.
By ruling in favor of Ripple Labs, the court demonstrated that the charges may not have sufficient grounds. The history shows Ripple's significant victories in legal proceedings.
