Back
Ripple-SEC Lawsuit
Subject : Business
A U.S. judge has demanded Ripple Labs hand over historical financial statements, fulfilling a request that the Securities and Exchange Commission made many years ago, court documents show.
In a Monday filing, Judge Sarah Netburn sided with the SEC and ordered Ripple to produce its records from 2022-2023. Ripple will also have to answer questions about the amount of XRP institutional sales proceeds it received.
Ripple Labs argues that its financial documents are "highly confidential." Last month, the fintech company challenged the SEC's request to release financial documents.
Ripple, the fintech company whose founders created the XRP cryptocurrency, has had issues with the SEC since 2020 when the regulator hit the fintech company with a $1.3 billion lawsuit for allegedly selling unregistered securities in the form of XRP.
But last year, Ripple scored a partial win in the courts against the SEC when a judge ruled that programmatic sales of XRP to retail investors did not qualify as securities.
Despite the judge saying that $728 million worth of contracts for institutional sales did constitute unregistered securities sales, investors and Ripple Labs interpreted the partial ruling a win for the broader crypto industry.
Last month, Ripple CEO Brad Garlinghouse slammed Wall Street's biggest regulator, calling the SEC "very hostile." He added that SEC Chairman Gary Gensler was a "political liability" and that his way of regulating the crypto industry wasn’t working.
Financial Records - Securities - Cryptocurrency - Unregistered Securities - Institutional Sales - Partial Win - Lawsuit
'Living Separately' Under Section 13B HMA Means Cessation Of Marital Obligations, Regardless Of Residence: Patna High Court
30 Apr 2026
Belated Challenge by Non-Bidders to GeM Tender Conditions for School Sports Equipment Not Maintainable: Delhi High Court
30 Apr 2026
Supreme Court Clears Thakur, Verma in Hate Speech Case
01 May 2026
Appointment of Central Govt Employees as Vote Counting Staff Valid Under ECI Delegation: Calcutta HC
01 May 2026
Arrest Memo with Essential Allegations Satisfies Article 22(1) Grounds Requirement: Uttarakhand High Court
01 May 2026
Karnataka HC: Writ Petition Not Maintainable for Copyright Infringement in Film Certification; Remedy Lies in Civil Suit
01 May 2026
Comedy Show Remarks Without Deliberate Malicious Intent Don't Attract Section 295A IPC: Bombay HC Quashes FIR
01 May 2026
Decrees from Indian Courts Not 'Foreign Judgments' Under Portuguese CPC 1939: Bombay HC at Goa
01 May 2026
Supreme Court Issues Notice on Kannur Corporation's Challenge to Kerala HC Siren Discontinuation Order
01 May 2026
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
