SEC v. Ripple Labs, Inc.

Ripple Labs, Inc., Bradley Garlinghouse, and Christian A. Larsen entered into a settlement agreement with the SEC that lays out a framework for resolving the Commission’s civil enforcement action against them. According to the SEC, as part of the agreement, the SEC and Ripple would jointly request the district court to issue an indicative ruling as to whether it would dissolve the injunction against Ripple and order the escrow account holding the $125035150 civil penalty imposed by the final judgment be released, with $50000000 paid to the Commission in full satisfaction of that penalty and the remainder paid to Ripple.

Summary generated from official Securities and Exchange Commission press release