The U.S. Securities and Exchange Commission (SEC) has taken a significant step forward in its legal battle against Ripple, as the appeal has been filed in the Court of Appeals for the Second Circuit’s PACER system. Renowned defense attorney James K. Filan shared this update on X, confirming that the appeal has been officially docketed in the Second Circuit’s PACER docketing system.
The PACER system is responsible for tracking federal cases within the Second Circuit, and Attorney Filan provided screenshots of the case, verifying that the SEC appeal is now within the Second Circuit’s appellate court system. The case title is Securities and Exchange Commission v. Ripple Labs Inc., with the docket number 24-2648.
The details of the SEC appeal against Ripple reveal that the case was docketed under the title United States Securities and Exchange Commission v. Ripple Labs, Inc. Although the SEC dropped its case against Ripple executives Brad Garlinghouse and Chris Larsen last year, their names are still included in the appeal as “Defendant-Appellee.”
Intervenors in the case include Jordan Deaton, James LaMonte, Tyler LaMonte, and Roslyn Layton, represented by their legal counsel, John Deaton. Other information docketed in the appellate court system includes the case’s origin date (December 22, 2020) and the final judgment date (August 7, 2024).
The filing of the Ripple lawsuit in the Second Circuit’s docketing system signifies the beginning of the appellate process, allowing the court to review Judge Analisa Torres’ decision and determine if any errors were made in her ruling.
Ripple remains confident in its ability to secure a victory in the appeal against the SEC. CEO Brad Garlinghouse emphasized that the company will prevail for the benefit of Ripple, the XRP community, and the broader crypto industry. Ripple’s Chief Legal Officer, Stuart Alderoty, stated that the company will demonstrate that the SEC lawsuit is misguided and irrational.
Alderoty referred to a recent post highlighting the Second Circuit’s rejection of the SEC’s arguments in a previous case, demonstrating the court’s skepticism towards the SEC’s claims. Popular XRP community figure Ashley Prosper characterized these statements as typical of an order dismissing a case lacking merit.
Overall, the appeal process against Ripple by the SEC continues to unfold, with both parties confident in their positions as they await a decision from the Second Circuit.