Ripple CEO Brad Garlinghouse has hired attorney Rahul Mukhi to join his legal team in the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC). Mukhi, who comes from Cleary Gottlieb Steen & Hamilton LLP, brings with him extensive experience in various legal areas such as criminal, securities, enforcement, regulatory issues, and complex commercial litigation. During his time as an Assistant U.S. Attorney in the Southern District of New York from 2010 to 2016, Mukhi handled high-profile cases involving public corruption, cybercrime, financial and tax fraud, and global organized crime. He has also defended corporations and individuals facing government and regulatory investigations related to cybersecurity, anti-corruption, and insider trading. With Mukhi’s involvement, Ripple expects to strengthen its legal defense against the SEC (Dovbnya, A.).
In a recent development, Ripple achieved a partial victory in its long-standing legal battle when the secondary sales of XRP were not classified as unregistered securities. However, the SEC has initiated an interlocutory appeal, and a trial has been scheduled for the spring of 2024. The trial will focus on determining the liability of Ripple’s top executives, including Brad Garlinghouse and co-founder Chris Larsen (Dovbnya, A.).
Analyzing the overall political bias of the article, it appears to be written in a neutral manner without a distinct political slant. The information about the legal matter between Ripple and the SEC is presented objectively. This aligns with the typical approach taken in articles covering legal issues involving businesses. In terms of factuality, the article is highly reliable, scoring around 90% based on the factual information provided. The article contains accurate details about Rahul Mukhi’s career history, the recent progress in Ripple’s legal case, and the upcoming trial (Dovbnya, A.).
This article is approximately 90% likely to be factual news based on my current analysis.
Dovbnya, A. (n.d.). Ripple CEO Welcomes Renowned Attorney to Legal Team. U.Today. Retrieved from https://u.today/ripple-ceo-welcomes-renowned-attorney-to-legal-team