Ripple: Judge's settlement rejection has no effect on legal victory

Chief legal officer Stuart Alderoty said "procedural concerns" are at the heart of a court's denial of a joint motion by Ripple and the US Securities and Exchange Commission to settle the regulator's case against it.

Ripple’s legal chief said a US court’s rejection of a proposed XRP settlement with the Securities and Exchange Commission (SEC) does not pose a threat to Ripple’s win.

Judge Analisa Torres of the US District Court for the Southern District of New York rejected a joint Ripple-SEC motion seeking an indicative ruling on their proposed settlement, according to a filing on May 15.

Ripple’s chief legal officer, Stuart Alderoty, said the rejection does not reverse the company’s victory in the case. The company announced the end of the lawsuit on March 19.

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