{"id":63691,"date":"2023-11-06T09:53:26","date_gmt":"2023-11-06T13:53:26","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=63691"},"modified":"2023-11-06T09:53:28","modified_gmt":"2023-11-06T13:53:28","slug":"ripples-legal-tactics-could-slash-secs-770m-claim","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ripples-legal-tactics-could-slash-secs-770m-claim\/","title":{"rendered":"Ripple\u2019s Legal Tactics Could Slash SEC\u2019s $770M Claim"},"content":{"rendered":"\n

Ripple\u2019s legal strategies, focusing on net profits and limiting the SEC\u2019s jurisdiction, may significantly reduce the potential $770 million penalty in the ongoing lawsuit.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Attorney Jeremy Hogan recently highlighted potential strategies Ripple<\/a> could employ to significantly decrease the potential $770 million penalty sought by the SEC. <\/p>\n\n\n\n

On November 5, Hogan shared insights on social media about how Ripple might lower the damages claimed by the SEC.<\/p>\n\n\n\n

\n

I was in a small argument with my wife last night, which means, I am thinking about "damages" this morning. For me, that is an examination of different restaurants to take her.

For Ripple and the SEC, things are a little more complex.

A small thread if you are interested.

1\/ https:\/\/t.co\/nETbTERVvP\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/p>— Jeremy Hogan (@attorneyjeremy1) November 5, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

Disgorgement Strategy: Ripple\u2019s Potential Saving Grace<\/h3>\n\n\n\n

Hogan pointed out the difference between Ripple\u2019s net profits and its total revenue when calculating \u201cdisgorgement,\u201d<\/em> which is the recovery of profits gained from alleged wrongdoing. <\/p>\n\n\n\n

By focusing on net profits, Ripple could deduct legitimate business expenses, potentially reducing the penalty amount.<\/p>\n\n\n\n

Hogan also noted that the SEC\u2019s regulatory power is limited to the United States, suggesting that Ripple could narrow the SEC\u2019s case and related fines by concentrating on XRP sales connected to U.S. transactions.<\/p>\n\n\n\n

Legal Milestones and Ripple\u2019s Defense<\/h3>\n\n\n\n

The SEC sued Ripple Labs in December 2020, <\/use><\/svg><\/span><\/a>claiming the company conducted an unregistered securities offering via XRP sales. <\/p>\n\n\n\n

However, Judge Analisa Torres\u2019s ruling that XRP is not a security in secondary market trades was a pivotal moment in the case. <\/p>\n\n\n\n

This ruling, coupled with the dismissal of several charges against Ripple executives, has changed the course of the lawsuit.<\/p>\n\n\n\n

Ripple\u2019s legal team, led by Stuart Alderoty, has drawn attention to the Second Circuit\u2019s decision in SEC v. Govil,<\/use><\/svg><\/span><\/a> which requires the SEC to prove actual financial harm to investors for substantial disgorgement. <\/p>\n\n\n\n

Ripple argues that the degree of its liability may hinge on whether XRP investors have suffered losses.<\/p>\n\n\n\n

Progress in the Case: Briefing Schedule Set<\/h4>\n\n\n\n

Judge Torres has ordered the SEC and Ripple to propose a joint briefing schedule concerning the institutional sales of XRP, indicating forward movement in the case. <\/p>\n\n\n\n

This part of the lawsuit deals with allegations of federal securities law violations by Ripple, with a schedule due by November 9.<\/p>\n\n\n\n

Ripple\u2019s legal maneuvers reflect its ongoing fight against the SEC\u2019s claims and highlight the avenues explored to mitigate the looming $770 million penalty. <\/use><\/svg><\/span><\/a><\/p>\n\n\n\n

The case continues to be closely watched by the crypto community for its implications on the industry\u2019s regulatory landscape.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ripple\u2019s legal strategies, focusing on net profits and limiting the SEC\u2019s jurisdiction, may significantly reduce the potential $770 million penalty in the ongoing lawsuit. Attorney Jeremy Hogan recently highlighted potential strategies Ripple could employ to significantly decrease the potential $770 million penalty sought by the SEC. On November 5, Hogan shared insights on social media […]<\/p>\n","protected":false},"author":44,"featured_media":63694,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[7231,16009,142],"class_list":["post-63691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-sec-3","tag-xrp-price-analysis","tag-ripple"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/11\/Ripple-x-SEC.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/63691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=63691"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/63691\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/63694"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=63691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=63691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=63691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}