SEC has 3%–14% chance of success in Ripple appeal, lawyers predict
The post SEC has 3%–14% chance of success in Ripple appeal, lawyers predict appeared on BitcoinEthereumNews.com. The United States Securities and Exchange Commission has a very slim chance of winning its appeal against Ripple in the ongoing lawsuit, according to lawyer Bill Morgan, who has been closely following the lawsuit. Morgan, in a post on X (formerly Twitter), argued that there is no obvious appellable error other than in “Ripple’s favour regarding ODL sales which don’t meet at least two prongs of the Howey test,” while adding that there is a very slim chance of about 3% for SEC’s success in getting an appeal against Ripple. I don’t see any obvious appellable error other than in Ripple’s favor in respect of ODL sales which don’t meet at least two prongs of the Howey test. The SEC’s prospects of success on appeal are very slim and I feel generous today so I am giving it 3% chance of success on appeal https://t.co/FRIFbqzmVA — bill morgan (@Belisarius2020) October 22, 2023 Morgan’s prediction came in repose of another statistic shared by Jeremy Hogan, a prominent attorney, who shared government data on the rate of success of appeals in different types of lawsuits. The data suggests the SEC has a 14.2% chance of winning the appeal against Ripple. The SEC fought a long-drawn court battle against Ripple for three years before a judge ruled that the sale of XRP on crypto exchanges doesn’t violate securities law. The judgment came as a major win for Ripple, which lost a significant chunk of business during the SEC lawsuit in the U.S. as major crypto exchanges delisted XRP (XRP) from their platforms. The SEC also lost an appeal against the judgment in which Judge Analisa Torres ruled on Oct. 4 that the security regulator failed to meet its burden to show that there were controlling questions of law or substantial grounds for differences of opinion on…
The post SEC has 3%–14% chance of success in Ripple appeal, lawyers predict appeared on BitcoinEthereumNews.com.
The United States Securities and Exchange Commission has a very slim chance of winning its appeal against Ripple in the ongoing lawsuit, according to lawyer Bill Morgan, who has been closely following the lawsuit. Morgan, in a post on X (formerly Twitter), argued that there is no obvious appellable error other than in “Ripple’s favour regarding ODL sales which don’t meet at least two prongs of the Howey test,” while adding that there is a very slim chance of about 3% for SEC’s success in getting an appeal against Ripple. I don’t see any obvious appellable error other than in Ripple’s favor in respect of ODL sales which don’t meet at least two prongs of the Howey test. The SEC’s prospects of success on appeal are very slim and I feel generous today so I am giving it 3% chance of success on appeal https://t.co/FRIFbqzmVA — bill morgan (@Belisarius2020) October 22, 2023 Morgan’s prediction came in repose of another statistic shared by Jeremy Hogan, a prominent attorney, who shared government data on the rate of success of appeals in different types of lawsuits. The data suggests the SEC has a 14.2% chance of winning the appeal against Ripple. The SEC fought a long-drawn court battle against Ripple for three years before a judge ruled that the sale of XRP on crypto exchanges doesn’t violate securities law. The judgment came as a major win for Ripple, which lost a significant chunk of business during the SEC lawsuit in the U.S. as major crypto exchanges delisted XRP (XRP) from their platforms. The SEC also lost an appeal against the judgment in which Judge Analisa Torres ruled on Oct. 4 that the security regulator failed to meet its burden to show that there were controlling questions of law or substantial grounds for differences of opinion on…
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