Ripple’s Chief Legal Officer, Stuart Alderoty, reaffirmed that the company’s core legal victory remains unaffected, following a U.S. court’s denial of a joint settlement motion filed by Ripple and the Securities and Exchange Commission (SEC).
The decision, issued by Judge Analisa Torres of the U.S. District Court for the Southern District of New York on May 15, rejected a request for an indicative ruling—a type of advisory opinion used when a case is on appeal.
“Nothing in today’s order changes Ripple’s wins (i.e. XRP is not a security, etc.),” Alderoty clarified in a statement. “This is about procedural concerns with the dismissal of Ripple’s cross-appeal.”
The court concluded that if it had jurisdiction, it would deny the motion as procedurally improper under Rule 62.1, as both parties had already filed appeals and the matter is now before a higher court.
Ripple had previously announced the end of the lawsuit on March 19, following a settlement agreement that included a reduction in penalties from $125 million to $50 million.
However, both Ripple and the SEC must now resolve outstanding issues through the appeals court or potentially revisit the matter before Judge Torres if jurisdiction is returned.
Despite the legal procedural setback, Alderoty emphasized that Ripple and the SEC remain aligned in seeking resolution and will revisit the matter jointly with the court.
Kosta Gushterov
Reporter at Coindoo
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Source: https://coindoo.com/ripple-xrp-win-unchanged-despite-court-rejection-of-sec-deal/