Open Now
Open Now
Watch now

Ripple lawsuit update: Founder of Cryptolaw Provides Settlement Timeline

According to Cryptolaw founder John Deaton, there will be no settlement in the Ripple-SEC litigation within the next 30 days, despite persistent reports to the contrary. As of right now, the Ripple-SEC case looks to be moving along gradually.

The SEC's staff is losing trust in the agency's ability to win the case, according to Eleanor Terrett, a Fox journalist. According to Terrett, SEC Commissioner Hester "Crypto Mom" Peirce has privately expressed her fear that the SEC may not accomplish the end it seeks, according to a person close to the organization.

Brad Garlinghouse, Ripple's CEO, has claimed that Ripple was anticipating some judicial judgements. The court has yet to rule on the SEC's pending motion to invalidate Ripple's fair notice defense. By John Deaton's estimation, the SEC's move for reconsideration is the "biggest decision" in the case, and the XRP community eagerly awaits Sarah Netburn's conclusion.

The individual defendants' motions to dismiss the action have yet to be decided by Judge Analisa Torres (Brad Garlinghouse and Ripple co-founder Chris Larsen). According to John Deaton, Ripple may seek more discovery if the individual defendants' efforts to dismiss the case are rejected.

Ripple-SEC litigation attorney Jeremy Hogan has made a prediction about the case's end date in recent tweets. Between August 26 and November 18, Ripple expects the litigation to be resolved, according to Hogan. A bargain had been formed, but he went on to say that it may settle at any time.

According to the XRP-friendly attorney, the SEC and Ripple may follow a few procedures, including a meeting to reach a settlement within fourteen days after fact discovery.

The settlement negotiations, according to Hogan, might take place in April or May, he said. Since the most recent settlement attempt, which took place around a month ago, had been unsuccessful, he believes that mediation will serve as the best next step in the process. In September, Hogan expects a summary judgment hearing.

** Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of USA GAG nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

Follow us on Google News

Filed under