SEC Files Supplemental Power of Attorney to Reject Motion for Fair Notice Defense by XRP Corporation

Release time:2022-01-07 02:00 source:Internet Copy link share

The U.S. Securities and Exchange Commission has filed a supplemental authorization letter in support of its motion to dismiss XRP’s fair notice defense, Golden Finance reports. Plaintiffs used a judgment from a different case with a similar fair notice argument that ended up falling into the SEC's trap. In late December, in the SEC vs Fife case, the Northern District of Illinois denied the defendants’ motion to dismiss, using the fair notice argument that Ripple insisted on in the XRP lawsuit. In a separate case, the SEC charged Chicago-based John M. Fife and his company with acquiring and selling more than 21 billion shares without registering as a securities dealer with the SEC penny stock.

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