It seems Ripple has carefully prepared plans to counter the lawsuit of the US Securities and Exchange Commission (SEC).
According to a recent source from Courtlistener, Ripple has sent 21 lawyers ready to fight the ongoing lawsuit. SEC.
21 lawyers are clearly divided duties, of which 4 lawyers will represent Brad GarlinghouseRipple's CEO, 4 lawyers representing co-founder Chris Larsen and the remaining 13 lawyers representing Ripple.
The SEC alleges Ripple illegally sold XRP as unregistered 'securities' since its launch. And also just named Ripple CEO Brad Garlinghouse and co-founder Chris Larsen have a personal profit in the XRP deals, greatly affecting investors.
On January 12, the SEC announced that Marc P. Berger, deputy director of the SEC's Enforcement Division, would direct the case.
Berger joined the SEC in 2017 and was appointed deputy director of the Enforcement Division in August.
In addition to Ripple, Berger has taken actions against Robinhood, Credit Suisse Securities, New York Stock Exchange, JP Morgan Securities, Deutsche Bank AG, Herbalife Nutrition, Stryker Corp, General Electric, Hertz and Telegram Group… and many others.
Many reports indicate that newly-elected US President Joe Biden has the ability to choose Gary Gensler as the next chairman of the SEC.
Gary Gensler has also previously commented that XRP has the characteristics of a 'stock'.
If nothing changes, the first SEC and Ripple trial will take place next month, in the form of online as COVID-19 translation in the US remains complicated.
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