On June 12, lawyers stated that Ripple and the SEC are preparing to file a motion under Rule 60 to lift the injunction against Ripple. This comes with the upcoming deadline for the SEC’s status report in the 2nd Circuit Court on June 16, signaling potential delays in the lawsuit.
Former SEC lawyer James Farrell highlighted that due to the injunction, Ripple is barred from filing for an IPO for another four years. This constraint is crucial as Ripple seeks to re-enter the market and expand operations.
Legal experts suggest that if Ripple’s new motion is approved, it may lead to additional time for updates and benefit both parties. They emphasize the importance of compelling justifications to inform the court.
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