JUDGE DENIES MOVE TO REDUCE RIPPLE’S PENALTY IN SEC CASE
https://s.yimg.com/ny/api/res/1.2/3l2k2Jot8PB6fWZ.usyH8A--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD02NzU-/https://media.zenfs.com/en/banking_dive_717/c9cc192b7467a30e5beee83847ba0dcc
✍️ A federal judge denied Ripple's motion to reduce its penalty by $75 million in its case against the Securities and Exchange Commission, citing a technicality.
👉 Ripple's motion to reduce its penalty by $75 million was denied by a federal judge 👉 The judge cited a technicality, stating that the motion should have been filed under Rule 60 👉 The parties failed to demonstrate 'exceptional circumstances' to vacate the injunction and reduce the civil penalty 👉 Ripple's Chief Legal Officer expressed confidence that the settlement would work out
-- #AnalisaTorres #StuAlderoty #LyraBytes #FredRispoli #JamesFilan #business
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