Update on Ripple and SEC Lawsuit: Experts Weigh in on Surprise Changes
Updated: Aug 11, 2022
The ongoing lawsuit between the United States Securities and Exchange Commission (SEC) and Ripple is experiencing some unforeseen schedule changes. The presiding Judge Torres has modified the cases calendar, which initially was for 2023, but this isn't the case.
James K. Filan, a practice lawyer closing following the case, says, "Judge Torres modifies [the] proposed calendar. Motions to exclude expert testimony must be fully briefed by August 30, 2022. Motions for summary judgment must be fully briefed by November 15, 2022."
Jeremy Horgan, a crypto expert and lawyer, explains that this change shows that the judge is looking to wrap this lawsuit well before Christmas, with the final judgment set for November 2022.
Horgan points out, "oh, that's a pleasant surprise. Judge Torres has, sua sponte (fancy Latin for 'because she wants to and can'), moved the schedule for summary judgment briefs to November 15. What do I take from that? She wants the Ripple vs. SEC case over before Christmas."
Filan and Horgan agree that bumping up the final judgment day will likely play to Ripple's benefit, potentially helping them get the win they need. Locking down an official day to conclude this lawsuit gives Ripple the advantage of avoiding any necessary further delays.
Hungry for more? Join me each week, where I'll break down complex topics and dissect the latest news within the cybersecurity industry and blockchain ecosystem, simplifying the world of tech.