The U.S. Securities and Exchange Commission (SEC) will no longer pursue claims that Ripple’s CEO Brad Garlinghouse or Executive Chairman Chris Larsen aided and abetted the company in violating federal securities laws in its XRP transactions, canceling a trial scheduled for next year and giving the crypto company another victory in the agency’s long-running suit against it.
According to a filing Thursday afternoon, the parties agreed to voluntarily dismiss the suit against the two executives with prejudice, meaning it cannot be filed again. The SEC will continue pursuing damages against Ripple, the filing said. “For nearly three years, Chris and I have been the subject of baseless allegations from a rogue regulator with a political agenda,” said Garlinghouse, in a statement. “Instead of looking for the criminals stealing customer funds on offshore exchanges that were courting political favor, the SEC went after the good guys.”
An absolute HUGE win for Garlinghouse, Larsen |& the XRP community.
