The law firm representing Ripple sent a to Judge Analisa Torres, who is overseeing the lawsuit, to oppose the SEC’s anticipated motion for leave to file an interlocutory appeal for the court’s July 13 order which granted the crypto firm’s summary judgment.
An interlocutory appeal is filed to appeal a ruling by a trial court amid ongoing proceedings for other aspects of the case. In other words, an interlocutory appeal is sought to appeal a certain ruling before a final judgment is passed by the court.
James Murphy, a popular crypto lawyer on X (formerly Twitter), last month that an interlocutory appeal from the SEC was likely. According to Murphy, the mounting political pressure on SEC Chair Gary Gensler and the summary judgment’s potential impact on the SEC’s ongoing high-profile lawsuits against crypto giants BINANCE and COINBASE could prompt the securities regulator to make such a move.
However, the SEC would need the permission of Judge Torres, as well as the United States Court of Appeals for the Second Circuit, to proceed with an interlocutory appeal. This would require the regulator to demonstrate three things: First, the court’s previous ruling involves a controlling question of law. Second, there are substantial grounds for difference of opinion on that question, and lastly, an immediate appeal may advance the termination of the litigation.
Ripple, along with Chief Executive Brad Garlinghouse and co-founder Chris Larsen, opposed the anticipated appeal on the grounds that none of the above-mentioned prerequisites would be satisfied in the SEC’s anticipated interlocutory appeal.
