Judge denies SEC's motion to file interlocutory appeal in Ripple case

律动BlockBeats · 2023-10-04T00:53:01.000Z

BlockBeats news, on October 4, according to The Block, U.S. Federal Judge Analisa Torres of the Southern District of New York rejected the U.S. Securities and Exchange Commission’s (SEC) request for an interlocutory appeal in its lawsuit with the encryption company Ripple. Judge Torres noted that the SEC had not demonstrated that the appeal would "substantially advance the ultimate termination of the litigation." As a result, the case has been scheduled for trial on April 23, 2024. Ripple and the SEC are expected to file pre-trial documents before the end of the year. Judge Torres also ordered attorneys from both sides and the parties to meet in person for at least one hour to discuss settlement of the matter. In August, the SEC filed a motion with the U.S. District Court for the Southern District of New York asking the court to grant an interlocutory appeal. At the time, SEC lawyers argued that the court’s handling of the Ripple case could have a “significant impact” on other pending litigation, such as the regulator’s fight with Binance and Coinbase.

According to BlockBeats, on October 4, according to The Block, Analisa Torres, a federal judge in the Southern District of New York, rejected the request of the U.S. Securities and Exchange Commission (SEC) for an interlocutory appeal in the lawsuit with the crypto company Ripple. Judge Torres pointed out that the SEC did not prove that the appeal would "substantially advance the final termination of the lawsuit." Therefore, the case has been scheduled for trial on April 23, 2024. Ripple and the SEC are expected to submit pre-trial documents by the end of this year. Judge Torres also asked lawyers and parties from both sides to meet in person for at least one hour to discuss the settlement of the matter. In August of this year, the SEC filed a motion with the Federal District Court for the Southern District of New York, asking the court to approve the interlocutory appeal. At the time, lawyers for the SEC believed that the way the court handled the Ripple case could have a "significant impact" on other pending lawsuits, such as lawsuits between regulators and Binance and Coinbase.