Ripple Lawsuit News: Ex-SEC Lawyer Reacts to Unusual XRP Filing by $10M Fined Stock Dealer

The post Ripple Lawsuit News: Ex-SEC Lawyer Reacts to Unusual XRP Filing by $10M Fined Stock Dealer appeared first on Coinpedia Fintech News

Ripple’s CEO, Brad Garlinghouse, recently shared a video celebrating what he called a victory in the long-running legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). While Ripple’s executives have confirmed the case is over, there’s been no official statement from the SEC, leaving many in the XRP community wondering what’s really going on.

To add to the mystery, an unexpected filing popped up in the court case. A guy named Justin W. Keener sent an emergency request, claiming he has “decisive evidence” that could help Ripple and support freedom for Americans. But no one knows exactly what this evidence is. Keener says it has something to do with investment contracts he’s been collecting.

When Fox Business’ Eleanor Terrett looked into Keener, she found out the SEC had recently sued him for being an unregistered penny stock dealer. A court ordered him to pay over $10 million because of it.

Legal experts aren’t taking his filing seriously. Former SEC lawyer Marc Fagel said it’s basically like spam getting through the court’s system and will likely be thrown out quickly. He explained that Keener isn’t part of the case and doesn’t have the right to submit evidence.

Some people asked if Judge Analisa Torres might change her decision about Ripple’s liability. Fagel replied that this isn’t possible. “Judge Torres won’t be asked to, nor will she, ‘revoke’ her ruling on liability,” he said. Instead, both sides will try to adjust the remedies, not the original decision.