Judge Analisa Torres denied Ripple-SEC’s motion to modify their settlement, citing procedural flaws under Rule 60.
The denial leaves Ripple’s $125 million penalty and the ban on institutional XRP sales.
Legal expert Bill Morgan raised six unresolved questions.
The legal entanglement between Ripple and the U.S. SEC took a new turn after Judge Analisa Torres denied a joint motion to modify the final judgment. This has raised serious questions about the future of their settlement. Meanwhile, Australian lawyer Bill Morgan has outlined six critical legal issues facing both parties.
Judge Torres Rejects Motion
Notably, on May 8, Ripple and the SEC jointly filed a motion seeking to amend key terms of a previously agreed-upon settlement. This included lifting a permanent injunction on Ripple’s institutional XRP sales and reducing a $125 million civil penalty to $50 million.
However, Judge Torres dismissed the motion on May 15, stating it failed to meet procedural standards under Rule 60 of the Federal Rules of Civil Procedure, which governs relief from final judgments. The motion had instead relied on Rule 62.1, which allows a judge to issue an indicative r…
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