Lawyer Calls Out Mistakes In Brad Garlinghouse & Chris Larsen’s Deal
The post Lawyer Calls Out Mistakes In Brad Garlinghouse & Chris Larsen’s Deal appeared on BitcoinEthereumNews.com.
Fred Rispoli, a lawyer in the Ripple vs SEC case, has criticized Brad Garlinghouse and Chris Larsen for agreeing to drop only some of the charges that the U.S. Securities and Exchange Commission (SEC) has leveled against them. According to Rispoli, the executives should have sought for the dismissal of all the charges instead of coming to a partial settlement. Fred Rispoli Criticizes Brad Garlinghouse and Chris Larsen’s Deal Through a series of posts on the X platform, Fred Rispoli, a lawyer, pointed out what he called blunders in the legal approach that Garlinghouse, Ripple’s CEO, and Larsen, the company’s executive chairman, took. He personally expressed concern with their decision to drop some of the claims while not seeking a full trial on the “aiding and abetting” charges raised by the US SEC. In the view of Rispoli, Ripple’s leaders were in the best position to defend themselves against the SEC’s allegations, especially the “Institutional Sales” claim, which would only hold if there was evidence of recklessness. He stated that the agency lacked compelling evidence to meet that burden, and a jury would likely have been frustrated by the SEC’s case, possibly resulting in a unanimous verdict in favor of Garlinghouse and Larsen. Missed Opportunities for Key Testimonies in Ripple vs SEC Case Rispoli also added that had Ripple CEO Brad Garlinghouse and Larsen proceeded to trial, there was a possibility that potential witnesses would have come into the picture. He said that the SEC’s former chairman Jay Clayton and its former co-director of the corporation finance division Bill Hinman, alongside other industry players, might have been called to give evidence. These testimonies in the Ripple Vs SEC case could have given a clue on internal SEC determinations regarding the classification of cryptocurrencies, specifically XRP. Additionally, a trial would have…
Filed under: News - @ October 19, 2024 3:08 am