Lawyer Bill Morgan expressed enthusiasm, calling it the “best news” in five years. “The SEC v Ripple case is finally OVER. Booooom. Appeals dismissed,” he stressed.
The filing, submitted under Federal Rule of Appellate Procedure 42(b)(1), explicitly stated that “each party will bear its own costs on appeal.” It noted that the dismissal applies to “the above-captioned appeals,” referring to the main appeal by the SEC and the corresponding cross-appeal by Ripple.
The submission also confirmed that the parties “have agreed to the dismissal and have signed this stipulation,” signaling a mutual decision to avoid further court action. The move ends the prospect of any appellate review, leaving the lower court rulings intact but without a binding precedent from the Second Circuit.