Judge Jed Rakoff gave a detailed interpretation of the Howey test that was at odds with the decision on the SEC case against Ripple.
Source: https://cointelegraph.com/news/judge-denies-motion-dismiss-terraform-sec-case-reject-ripple-ruling
Judge rejects motion to dismiss Terraform case, disagrees with Ripple decision
August 1, 2023
CoinTelegraph