March 29, 2024

Ripple executives filed a motion to dismiss SEC lawsuit

Ripple executives filed a motion to dismiss SEC lawsuit

Brad Garlinghouse and Chris Larsen filed a double request to dismiss the SEC's claim.

Garlinghouse and Larsen's attorneys state thatXRP sales "were mostly overseas." And although the regulator says that American investors also participated in the sales, so far it has not provided documents confirming at least one such transaction.

The petition says:

Although the Commission investigatedRipple and Mr Larsen's actions more than two and a half years prior to filing the lawsuit, despite access to Mr Larsen's trading records, and despite the ability to easily trace each sale, the SEC is still unable to provide any evidence of a violation of the law in XRP sell time.

According to the judge's warrant, the SEC must submit a response by May 14, otherwise the petition will be accepted.

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Based on materialsu.today