This week brings an unexpected development in the SEC vs Ripple case. In a court submission filed on August 15th in the US District Court Southern District of New York, Judge Torres introduces a captivating aspect to the SEC vs Ripple case by allowing the involvement of an investment banker.
Judge Analisa Torres has approved Andrew A. Kunsak, representing the law firm Sidley Austin LLP, to act as an investment banker declarant in the ongoing legal battle between the US SEC and Ripple Labs.
The court document mentioned that “Andrew A. Kunsak of Sidley Austin LLP, 787 Seventh Avenue, New York, New York 10019, a member of this Court in good standing, hereby respectfully enters an appearance for Investment Banker Declarant in the above-captioned action.”
The aim of the investment banker is to protect Ripple’s stakeholders amidst the SEC’s challenge to Judge Torres’ summary judgment ruling.
Furthermore, in the past, Ripple has raised objections when an investment banker declarant connected to the law firms backing the US SEC’s stance made a similar appearance. This situation had raised apprehensions among the defendants.
Also Read: Ripple Joins BIS Task Force for Cross-Border Payments
