A district judge in New York issued a ruling in the SEC vs Ripple Labs lawsuit, with the SEC accusing Ripple Labs and its executives of unlawfully selling securities. The court granted the SEC’s motion for summary judgment on Institutional Sales but denied it on other matters. Conversely, Ripple’s motion for summary judgment was granted on some issues but denied on others. A trial date has been set for April 2024. The SEC filed a notice of motion for interlocutory appeal, which was rejected. Lawyer Jeremy Hogan shared an analysis suggesting the SEC faces challenges and limited options. The most likely outcome, if the case goes to trial and appeals, would be a resolution by June 2027.
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