Legal Expert’s Bold Claim: Ripple’s Potential to Slash Massive $770M SEC Fine!

"SEC's Scope Limited in Financial Penalties as Only U.S.-Linked Transactions Under Scrutiny, says Hogan"

In a recent development in the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), Ripple’s lawyer, James Hogan, has argued that the SEC’s financial penalty should be limited to transactions linked to the U.S. This statement could potentially narrow the scope of any penalty imposed on Ripple.

Hogan’s comments came after a landmark court ruling in SEC v. Govil, which stated that the SEC must demonstrate actual financial harm to investors before demanding significant disgorgement. Ripple’s chief counsel, Stuart Alderoty, supported this ruling and suggested that any disgorgement should be based on Ripple’s net profits rather than gross sales. Alderoty also referred to the recent move by the SEC to dismiss charges against Ripple executives Brad Garlinghouse and Chris Larsen as a “surrender,” indicating a potential shift in the ongoing legal battle.

Hogan’s strategic arguments are based on recent case law and the unique circumstances surrounding XRP sales. These factors could have a significant impact on determining Ripple’s financial liability in this high-stakes legal dispute with the SEC.

Martin Reid

Martin Reid

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