Ripple CLO Dismisses Settlement Rumors, Outlines Next Steps

Ripple CLO has dismissed rumors of a settlement in the SEC v. Ripple lawsuit, providing clarity on the ongoing legal battle. The speculation was fueled by a scheduled pre-trial conference, but Ripple’s Chief Legal Officer clarified that the conference would not be held as ordered because the SEC had dismissed its charges against two individual defendants. Ripple will now focus on filing its response to the SEC’s request for penalties by April 22, with the SEC having until May 6 to reply. The recent closed-door meeting between the SEC and Ripple further fueled settlement rumors, but the focus now shifts to Ripple’s upcoming response to the SEC’s remedies brief. Ripple is expected to argue that disgorgement should only be paid to institutional clients who suffered financial losses from their XRP purchases, potentially resulting in a lesser penalty than the $2 billion demanded by the SEC.