sec-litreleases litigation_release 64 KB 1,149 chars

SEC v. Ripple Labs, Inc.; Bradley Garlinghouse; and Christian A. Larsen, No. LR-26369, Southern District of New York — Press Release

raw: Ripple Labs, Inc., Bradley Garlinghouse, and Christian A. Larsen

Ripple Labs, Inc., Bradley Garlinghouse, and Christian A. Larsen, No. 1:20-cv-10832 (S.D.N.Y.)

Caption
Securities and Exchange Commission v. Ripple Labs Inc.
Source PDF JSON
summary

The SEC resolved its civil enforcement action against Ripple Labs and executives Bradley Garlinghouse and Christian Larsen by dismissing all appeals, upholding a $125 million penalty.

paragraph

The SEC and Ripple Labs, along with executives Bradley Garlinghouse and Christian A. Larsen, entered a joint stipulation to dismiss pending appeals in the Second Circuit. This resolution upholds a district court judgment that imposed a $125,035,150 civil penalty against Ripple. The judgment also includes an injunction prohibiting Ripple from violating the registration provisions of the Securities Act of 1933.

narrative

The U.S. Securities and Exchange Commission has resolved its civil enforcement action against Ripple Labs, Inc. and executives Bradley Garlinghouse and Christian A. Larsen. The parties filed a joint stipulation to dismiss both the Commission’s appeal and Ripple’s cross-appeal in the United States Court of Appeals for the Second Circuit. This dismissal leaves the original district court final judgment intact. Under this judgment, Ripple must pay a $125,035,150 civil penalty. Additionally, the company is subject to an injunction prohibiting it from violating the registration provisions of the Securities Act of 1933. This resolution effectively concludes the long-standing legal battle regarding digital asset offerings.

Enriched metadata

Scheme
unregistered-securities (100%)
Court
Southern District of New York
Case No.
1:20-cv-10832
Civil penalty
$125,035,150
Entity
Ripple Labs, Inc.
Classified unregistered-securities(confidence 100%). EDGAR detection: forms Form D/S-1· recall 41% / precision 30%. detection rule →
Parties
Securities and Exchange CommissionRipple Labs Inc.The Chamber of Digital CommerceCryptillian Payment Systems, LLCMitchell McKennaPhD Roslyn LaytonThird-Party CReaper Financial, LLCMya LaMonteCryptocurrency Exchange DeclarantPhillip GoldsteinThird-Party AInvestor AValhil Capital, LLCJames LaMonteMoneyGram International, Inc.Blockchain AssociationVeri DAOThird-Party BCrypto Council for InnovationJordan DeatonKristiana WarnerParadigm Operations LPTyler LaMonteInvestor Choice Advocates NetworkNon-Party DBradley GarlinghouseDebra L FeinSpendTheBits, Inc.New Sports Economy InstituteInvestment Banker DeclarantChristian A. LarsenChamber of Digital CommerceI-Remit, Inc.Coinbase, Inc.
Keywords
rippleripple labsbradley garlinghousegarlinghouse christianchristian larsensecurities exchangeexchange commissioncommissionlabsincbradleygarlinghousechristianlarsensecurities

Exhibits & Attached Documents (1)

Extracted insights

Dollar amounts 1
  • $125.04M $125,035,150 $100M–$1B
Entities 6
  • person bradley garlinghouse
  • person Christian a. Larsen
  • court district court
  • organization Ripple Labs, Inc.
  • agency Securities and Exchange Commission
  • organization United States Court Of Appeals For The Second Circuit
Triples 5
  • Securities And Exchange Commission filed Joint Stipulation of Dismissal
  • Securities And Exchange Commission dismisses appeal and cross-appeal pending in the United States Court of Appeals for the Second Circuit
  • Securities And Exchange Commission resolves civil enforcement action against Ripple Labs, Inc., Bradley Garlinghouse, and Christian a. Larsen
  • District Court imposed $125,035,150 civil penalty against Ripple
  • District Court imposed injunction prohibiting Ripple from violating the registration provisions of the Securities Act of 1933
PDF (from attached: pdf)
UNITED STATES COURT OF APPEALS FOR THE SECOND CIRCUIT · Source
Text layers
Extracted body text (1,149c) 
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26369 / Aug. 7, 2025 Securities and Exchange Commission v. Ripple Labs, Inc., Bradley Garlinghouse, and Christian A. Larsen, Case No. 1:20-cv-10832 (S.D.N.Y. filed Dec. 22, 2020); Appeal Nos. 24-2648(L) and 24-2705 (XAP) (2d Cir.) SEC Announces Joint Stipulation to Dismiss Appeals, Resolving Civil Enforcement Action Against Ripple and Two of Its Executives The Securities and Exchange Commission today filed a Joint Stipulation of Dismissal entered into with defendants Ripple Labs, Inc., Bradley Garlinghouse, and Christian A. Larsen (“Defendants”) that dismisses the Commission’s appeal and Ripple’s cross-appeal pending in the United States Court of Appeals for the Second Circuit, and resolves the Commission’s civil enforcement action against Defendants. Those cross-appeals followed a final judgment by the district court that imposed a $125,035,150 civil penalty against Ripple and an injunction prohibiting Ripple from violating the registration provisions of the Securities Act of 1933. Following the dismissal of the cross-appeals, that final judgment will remain in effect.
OCR text (1,149c · html-text · 99% conf) 
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26369 / Aug. 7, 2025 Securities and Exchange Commission v. Ripple Labs, Inc., Bradley Garlinghouse, and Christian A. Larsen, Case No. 1:20-cv-10832 (S.D.N.Y. filed Dec. 22, 2020); Appeal Nos. 24-2648(L) and 24-2705 (XAP) (2d Cir.) SEC Announces Joint Stipulation to Dismiss Appeals, Resolving Civil Enforcement Action Against Ripple and Two of Its Executives The Securities and Exchange Commission today filed a Joint Stipulation of Dismissal entered into with defendants Ripple Labs, Inc., Bradley Garlinghouse, and Christian A. Larsen (“Defendants”) that dismisses the Commission’s appeal and Ripple’s cross-appeal pending in the United States Court of Appeals for the Second Circuit, and resolves the Commission’s civil enforcement action against Defendants. Those cross-appeals followed a final judgment by the district court that imposed a $125,035,150 civil penalty against Ripple and an injunction prohibiting Ripple from violating the registration provisions of the Securities Act of 1933. Following the dismissal of the cross-appeals, that final judgment will remain in effect.

Related documents (2)