TechFlow, May 16 — According to court documents from the Southern District of New York, Judge Analisa Torres rejected the joint motion for advisory ruling submitted by the U.S. Securities and Exchange Commission (SEC) and Ripple Labs. The motion requested the court to lift the injunction prohibiting Ripple from illegally offering securities and to reduce the civil penalty from $125 million to $50 million.
The court filing shows that the parties reached an agreement on May 8, 2025, aiming to resolve the litigation in both the district court and the Second Circuit Court of Appeals. Terms of the agreement included lifting the injunction against Ripple and reducing the civil penalty by 60%. However, the court found that the parties failed to meet the "special circumstances" standard required to modify a final judgment, and therefore denied the request.
