Former founder and chairman of Murphy and McGonigle law firm James A. Murphy, also known as MetaLawMan, has delved into the legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC), offering his perspective on the bigger argument in the case.
Bigger Argument Within The Ripple Vs. SEC Case
James Murphy revealed his insights on the legal dispute in an interview with Scott Melker on the Wolf where he examined the SEC’s damages theory in the case. According to Murphy, Ripple recently had a very lucky break, which he perceives as the bigger argument in the court case.
He then drew attention to a previous ruling by the Second Circuit Court of Appeals, which states that the SEC must prove misconduct by naming actual money-losing victims or something identified as pecuniary harm in order for there to be a disgorgement.
He stated:
The Second Circuit Court of Appeals ruled at the end of last year that in order for there to be a disgorgement, there have
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