BofA: US Stocks May See 5-10% Correction on Rising Election Uncertainty

Category: Finance

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Source: AASTOCKS.com

Update At: 7/23/2024

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Judge Fines Ripple $125M, Bans Future Securities Law Violations in Long-Running SEC Case

A federal judge imposed a $125 million fine on Ripple for violating securities laws through institutional sales of XRP, while programmatic sales to retail clients were deemed lawful. The judge also issued an injunction against future violations, citing concerns over Ripple's potential to breach securities laws again.

Coindesk

Victory for Ripple, XRP Soars

A federal court ordered Ripple to pay $125 million in civil penalties for violating securities laws through 1,278 institutional sales. The ruling, made by Judge Analisa Torres, is significantly lower than the SEC's initial demand of $1.9 billion. While the SEC's case against Ripple is concluded, an injunction was issued to prevent future violations. Ripple's CEO, Brad Garlinghouse, expressed satisfaction with the ruling, highlighting it as a victory for the company and the XRP community. Following the decision, XRP's price surged by 20%.

Brave New Coin

Ripple to Pay $125 Million Fine for Unregistered XRP Sales

A New York court ordered Ripple to pay a $125 million fine in its lawsuit with the SEC, significantly less than the $2 billion sought by the regulator. The court ruled that 1,278 transactions violated securities laws, but interpreted the ruling as a win for the crypto industry, leading to an 18% increase in XRP's price. Ripple's CEO called the outcome a victory for the company and the XRP community.

Decrypt

Ripple Fined $125M in Lawsuit Against SEC, XRP Price Soars 20% Immediately

Ripple has been fined $125 million by the SEC, significantly less than the $1 billion initially sought. This decision has been viewed positively by XRP investors, leading to a 20% surge in the cryptocurrency's value. Judge Torres ruled that while Ripple's programmatic sales to retail clients were lawful, direct sales to institutional clients violated securities regulations.

CryptoPotato

Olympics 2024 climbing on TV: Channel, schedule, live stream

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XRP News Today: Ripple Wins Big as Judge Slashes SEC’s $2B Lawsuit Penalty

The Court significantly reduced the SEC's demand from $2B to $125M, affirming Ripple's position and dismissing allegations of recklessness or fraud. The SEC may appeal the ruling regarding Programmatic Sales of XRP, but the market reacted positively with XRP prices rising modestly.

FX Empire

CVS Health Reports Mixed Q2 Earnings, Lowers 2024 Outlook, Reshuffles Segment Management

CVS Health Corp's stock fell after mixed Q2 earnings and a cut in annual profit guidance. Q2 sales were $91.23 billion, missing expectations. Adjusted EPS decreased to $1.83, while revenues in the Health Care Benefits segment rose 21.4%. Leadership changes were announced, with CEO Karen Lynch taking direct control of the Health Care Benefits segment. The company revised its EPS guidance to $6.40-$6.65 and cash flow guidance to approximately $9.0 billion, reflecting ongoing pressures in the Health Care Benefits segment.

Yahoo Finance

CVS Health stock moves lower after cutting full-year outlook

CVS Health's stock declines following a lowered full-year earnings forecast and mixed second quarter results, with revenue figures missing estimates. The company also announced a $2 billion cost-cutting initiative.

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Settlement over Cash App breaches may mean you’re entitled to up to $2,500

A $15 million settlement may provide compensation to Cash App users affected by data breaches. Users whose information was accessed without permission or who experienced unauthorized transactions between Aug. 23, 2018, and Aug. 20, 2024, may be eligible for claims. Out-of-pocket losses can be reimbursed up to $2,500, and claimants can also seek compensation for lost time. Claims must be submitted by Nov. 18, 2024.

MLive.com

Cash App to award $15M to users in security breach settlement: How to file a claim

Cash App users may receive compensation from a $15 million settlement due to a data breach affecting 8.2 million customers. Eligible users can claim up to $2,500 for unauthorized transactions, lost time, or transaction losses. Claims must be submitted by Nov. 18, 2024.

USA Today