The post SEC vs. Ripple: The Govil Ruling That’s Shaking the Case” appeared first on Coinpedia Fintech News
Ripple’s Chief Legal Officer, Stuart Alderoty, has highlighted a significant setback for the U.S. Securities and Exchange Commission (SEC). In SEC v Govil, the 2nd Circuit ruled that the SEC cannot demand a substantial disgorgement award without first demonstrating that investors have suffered actual financial harm, essentially asserting “no harm, no foul.”
The people who’ve argued that the SEC got a 50-50 victory in the @Ripple case are wrong. It was more like 90-10 in Ripple’s favor. If Ripple ends up paying $20M or less it’s a 99.9% legal victory. https://t.co/Xe6SYBiTCJ
— John E Deaton (@JohnEDeaton1) November 4, 2023
In response to this development, attorney John Deaton has weighed in on the Ripple case, arguing that those who suggest the SEC achieved a 50-50 victory are mistaken. According to Deaton, it was more of a 90-10 situation in favor of Ripple.
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