San Francisco-based company Ripple has filed its opposition to the U.S. Securities and Exchange Commission's motion for remedies.
In the XRP lawsuit, Ripple has filed its opposition to the US Securities and Exchange Commission's (SEC) motion for remedies and entry of final judgment. The fintech company counters the agency's for nearly $2 billion in penalties with a proposed fine of just $10 million maximum.
Ripple contests SEC's $2 billion penalty, submitting rebuttal late Monday.
In a significant legal manoeuvre, Ripple Labs Inc. has filed a motion to strike new expert materials submitted by the Securities and Exchange Commission (SEC) in the ongoing court saga that has captured significant investor attention.
Ripple Labs filed its rebuttal to the SEC's push to have the firm pay close to $2 billion in penalties, in a court filing late on Monday.
Ripple Labs has filed a resistance brief that is accompanied by supporting declarations and exhibits in compliance with the United States Securities and Exchange Commission's (SEC) remedies-related brief.
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