District Judge Torres has granted the request of the SEC to file a motion for leave to file an interlocutory appeal in its case against Ripple Labs. According to documents filed today, the court has reviewed the SEC’s request and granted approval to revisit the case via appeal.
According to the documents, the court is granting the SEC the ability to file the appeal. The SEC has until August 18 to file its motion. Additionally, by September 1, the defending Ripple Labs may file their opposition papers. A week later, the SEC can file its reply to those papers.
The order comes a day after Ripple Labs and co-defendants Brad Garlinghouse and Chris Larsen opposed the SEC’s request for an interlocutory appeal. Ripple Labs claims that the SEC had failed to “meet its burden to present facts that would support stretching Howey to cover all of the Defendants’ distributions of the digital asset XRP.”
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The SEC, on the other hand, claims that the appeal would “avoid the possibility of engaging in protracted remedies” in litigation. The appeal focuses on the judge’s decision on programmatic sales and “other distributions,” which include both the sale and offer of XRP in exchange for goods or services.