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In November, Immutable said it received a Wells notice from the regulator — a letter informing that the SEC is considering an enforcement action, typically sent after it concludes there is evidence of possible securities law violations.
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An August 2024 judgment from the US District Court for the Southern District of New York finding Ripple liable for $125 million will essentially stand, but the SEC will keep only $50 million of the amount in escrow. The remaining balance will be returned to Ripple.
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Atkins and his wife, Sarah Humphreys, held up to a combined $327 million in assets, in part through their respective stakes in Atkins’ consulting firm Patomak Global Partners and Tamko Building Products, according to a financial disclosure report made public by the US Office of Government Ethics on March 25.
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