- Ripple’s letter to Judge Torres requests only a modification of the relief, not a revision of the summary judgment.
- The joint motion with the SEC seeks to dissolve the injunction and adjust penalties while keeping prior rulings intact.
- Ripple emphasized it remains bound by securities laws even if the injunction is lifted.
Ripple Labs has written a new letter in its current court case against the U.S. Securities and Exchange Commission (SEC), seeking clarification about an essential legal motion. According to Lawyer James K. Filan, Ripple made a supplemental letter to Judge Analisa Torres.
The letter supports the joint request from both Ripple and the SEC for an indicative ruling, a step the company deems essential for final resolution of the lawsuit. The filing outlines three main reasons why the court should consider modifying the current terms of the final judgment without disturbing the underlying summary judgment ruling.
Ripple Seeks to Clarify Its Request
Ripple emphasized that it does not seek to overturn or revise the court’s previous summary judgment order. Instead, the company explained that the request solely aims to adjust the relief measures associated with the case. Ripple made it clear that the summary judgment order remains binding and still holds value for other legal jurisdictions.
In the letter, the company outlined that the proposed modification would involve dissolving the permanent injunction currently placed on Ripple and reassessing the financial penalty. The submission also clarified that Judge Torres’ earlier ruling would continue to stand and would not be subject to change. This clarification was presented to ensure the court fully understood the limited scope of the requested relief.
Ripple’s attorneys used the letter of supplement to highlight that they are by no means attempting to invalidate the effect of the prior ruling issued by the court. Rather, the intention is to ensure that the case concludes with appropriate and up-to-date remedies based on the current legal position of the two parties.
Joint Motion Aims to Modify Final Relief
According to the letter, both Ripple and the SEC jointly filed the motion asking the court to consider the modification. This joint request supports the effort to revise only the final judgment’s remedies and not its findings. The modification includes the potential removal of the permanent injunction and a recalibration of the penalty imposed.
Ripple has claimed that this is not a motion that violates the integrity of the court summary judgment that both parties still uphold. Filing was meant to bolster arguments that the fundamental decisions to the law would remain in place despite the requested relief granted.
This step reflects a coordinated effort between Ripple and the SEC to resolve remaining elements of the dispute without prolonging litigation over the enforcement aspects.
Ripple Reaffirms Compliance with Law
In addition to clarifying its position on the injunction, Ripple also addressed concerns related to legal compliance moving forward. The company made it clear that dissolving the injunction would not remove its obligation to follow federal securities laws.
This point was included in the letter to ascertain the court that the alteration of the judgment is not an exemption of legal liability. Ripple’s claim highlighted that the firm is still obligated to maintain compliance with applicable rules regardless of the court’s decision on the relief it seeks. Insertion of this clarification was aimed at emphasizing misinterpretations and to highlight Ripple’s commitment to adhering to legal frameworks.
