Prediction of slim chance
Lawyer Bill Morgan, closely following the ongoing lawsuit between the United States Securities and Exchange Commission (SEC) and Ripple, believes that the SEC has a very slim chance of winning the appeal. According to Morgan, there is no obvious appellable error in Ripple's favor, making the chances of the SEC's success very slim, at around 3%.
Statistic on appeal success rate
Morgan's prediction came in response to data shared by prominent attorney Jeremy Hogan, who revealed that the SEC has a 14.2% chance of winning the appeal against Ripple based on government data on appeal success rates in different types of lawsuits.
Court battle and major wins for Ripple
The SEC has been engaged in a long legal battle against Ripple for the past three years. However, a judge recently ruled that the sale of XRP on crypto exchanges does not violate securities law, delivering a significant victory for Ripple. This ruling led to major crypto exchanges delisting XRP from their platforms, resulting in a loss of business for Ripple. Additionally, the SEC lost an appeal against the judgment, further strengthening Ripple's position. The SEC also moved to dismiss all charges against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen, marking another major win for Ripple and its executives.
Final judgment expected next year
Morgan noted that with the dismissal of the rest of the case by the SEC, there will be no trial next year. He predicts that the court will likely give a final judgment sometime in the coming year.
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