SEC v. Ripple Court Filing, retrieved on July 13, 2023 is part of . You can jump to any part in this filing . This part is 11 of 18. HackerNoon’s Legal PDF Series here DISCUSSION II. Analysis B. Defendants’ Offers and Sales of XRP The parties cross-move for summary judgment on the SEC’s claim under Section 5 of the Securities Act. Whether Defendants offered or sold “investment contracts” is a legal question that the Court resolves based on the undisputed record. See SEC v. Thompson, 732 F.3d 1151, 1160–61 (10th Cir. 2013) (collecting cases). The SEC alleges that Ripple engaged in three categories of unregistered XRP offers and sales: (1) Institutional Sales under written contracts for which it received $728 million; (2) Programmatic Sales on digital asset exchanges for which it received $757 million; and (3) Other Distributions under written contracts for which it recorded $609 million in “consideration other than cash.” SEC Reply at 4–5, ECF No. 843. The SEC also alleges that Larsen and Garlinghouse engaged in unregistered individual XRP sales, from which they received at least $450 million and $150 million, respectively. See id. at 5. The Court shall separately analyze and evaluate each category of transaction. See Marine Bank, 455 U.S. at 560 n.11. See Continue Reading . here About HackerNoon Legal PDF Series: We bring you the most important technical and insightful public domain court case filings. This court case 1:20-cv-10832-AT-SN retrieved on September 7, 2023, from is part of the public domain. The court-created documents are works of the federal government, and under copyright law, are automatically placed in the public domain and may be shared without legal restriction. dropbox

SEC v. Ripple: Larsen and Garlinghouse’s Actions Did Not Not Constitute Sale of Investment Contracts

SEC v. Ripple: Case Conclusion

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