Ripple Files Additional Notice of Supplemental Authority in Connection with Terraform Labs Settlement

IconCryptoNewsTerminal Staff13 Jun, 2024

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Ripple Files Additional Notice of Supplemental Authority in Connection with Terraform Labs Settlement

James K. Filan, a former federal prosecutor turned lawyer, reported that Ripple has filed a "Notice of Supplemental Authority" in connection with the Terraform Labs settlement. This "Notice of Supplemental Authority" is filed to bring the court's attention to the controlling decisions, regulations, statutes, or other authority that have been issued after the final briefs. As previously reported by CoinDesk, the U.S. Securities and Exchange Commission (SEC) and Terraform Labs agreed to a $44.7 million settlement, which includes a disgorgement of approximately $35 million, prejudgment interest of $4.6 million, and a civil penalty of $4.2 million.

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