The U.S. Securities and Exchange Commission (SEC), Ripple Labs, co-founder Christian Larsen, and CEO Brad Garlinghouse filed a joint settlement agreement letter on Apr. 8, lawyer James Filan shared on X.
The joint letter, submitted to Judge Analisa Torres at the U.S. District Court for the Southern District of New York, requests an indicative ruling to dissolve the injunction included in the Aug. 7, 2024 judgment.
It also requests to order that the escrow account holding the $125,035,150 civil penalty imposed against Ripple be released and distributed with $50 million paid to the SEC and the remainder paid to Ripple.
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If Judge Torres issues the above ruling, both parties will move the U.S. Court of Appeals for the Second Circuit for a limited remand to seek relief, the letter mentions.
Note that the joint settlement letter is the latest step in the direction toward the end of the years-long securities violations case against Ripple.
