As of now, Ripple has seen 2 important legal developments throughout this week. They had also made an addition of a new lawyer to their legal team. In addition, they are contesting an important accusation made by the Securities & Exchange Commission of the United States of America.
Ripple has made the public announcement of hiring Nicole Tatz from Cleary Gottlieb Steen and Hamilton to their legal team. This announcement was made by James Filan on 12th June, Saturday.
This news of a new addition to their legal team was received with a mixed response. It seems to be positive that Tatz belongs from a background with Government investigations. Tatz particularly has a specialization in securities litigation. Moreover, she also represented many clients previously in front of several authorities like the SEC of the US.
Specialist Added To Ripple Legal Team
This amazing background of Tatz suggests that she is perfect for Ripple that has been alleged by the SEC to operate a securities offering that was unregistered. On the other hand, others have also witnessed that this addition of a new successful lawyer to their case signifies that the legal proceedings might get extended.
Lately, Ripple lawyers have pleaded that SEC has not given affair notice for the lawsuit. SEC had initially claimed that fair notice was given regarding the illegal sales of XRP. However, Filan had stated that this document was not applicable to Ripple.
Filan further added that the company intends to operate their ongoing sale of tokens while Cornerstone Report solely focuses on the 1-time ICO. In reply to this, SEC has informed that Ripple has issued an incorrect characterization. They also said fair notice is not needed to be accurate factual evidence.
