Kylie Chiseul Kim, a key defense attorney for Ripple Labs in its ongoing litigation against the SEC, has submitted a motion to withdraw from the case owing to her departure from the law company representing Ripple.
In a development from the high-profile litigation betwixt Ripple Labs Inc. and the United States Securities and Exchange Commission (SEC), Ripple’s defense attorney, Kylie Chiseul Kim, has submitted a motion to the Southern District of New York, seeking to withdraw from the case.
Kim has been a key legal figure in this ongoing lawsuit and her withdrawal raises some questions. Nonetheless, she had stated in her motion that her exit is owing to her dissociation with Kellogg, Hansen, Todd, Figel & Frederick, P.L.L.C., the legal company as of now representing Ripple Labs.
Kim’s decision to depart comes almost a year after she and fellow attorney Clayton J. Masterman joined Ripple’s legal team in July 2022.
This was amidst an escalating SEC lawsuit against Ripple, its CEO Brad Garlinghouse, and co- founder Christian Larsen. And once, their inclusion was perceived as a move to bolster Ripple’s defense against the SEC.
Following Kim’s withdrawal, the rest of the legal team at Kellogg, Hansen, Todd, Figel & Frederick, P.L.L.C., along with counsel from Debevoise & Plimpton LLP, will continue to represent Ripple Labs in this litigation.
News of Kim’s exit has ignited numerous reactions across the Twittersphere. The unexpected move has left numerous pondering about its probability implications for the ongoing lawsuit.
A consensus between users appears to be that Kim’s departure is a professional transition, not necessarily indicative of any fundamental shift in the case’s trajectory.
A segment of Twitter users speculated that Kim may have been awaiting the lawsuit’s resolution before embarking on her new career move. Nonetheless, without confirmation from Kim herself, these speculations remain conjecture.
Although while the ripple effects of this change within Ripple Labs’ legal team are is still to be seen, for now, it seems to be business as usual for the defense as they continue their legal battle with the SEC.