“Even if the SEC were to engage in a belated, post-discovery transaction-by-transaction analysis to identify XRP offers and sales with contracts, its claim would still fail as a matter of law. Not one of those contracts granted post-sale rights to recipients as against Ripple or imposed post-sale obligations on Ripple to act for the benefit of those recipients,” the filing said.
Source: https://www.coindesk.com/business/2022/09/18/sec-ripple-call-for-immediate-ruling-in-suit-over-whether-xrp-sales-violated-securities-laws/?utm_medium=referral&utm_source=rss&utm_campaign=headlines