The litigation between Ripple and the US Securities and Exchange Commission (SEC) continues to be critical. In this article, we will convey the new dates and expectations that lawyers have drawn for the Ripple case. Here are the details…
Lawyer says key dates may change for Ripple case
James K. Filan, a defense attorney, shared his expectations regarding the timelines in the Ripple case, which has been going on since December 2020. According to Filan, who is also a former federal prosecutor, corrected responses to the summary judgment may date. Both parties are expected to submit their responses to the summary resolutions by 30 November. These answers have a page limit of 55 pages. The documents will also be filed sealed and will also include responses to briefings.
2/2 This is based on the fact that the Redacted SJ Motions were due on 9/19 but were filed on 9/17 and the Redacted Oppositions were due on 10/24 but were filed on 10/21. So, expect the Redacted Replies to be filed early as well.
— James K. Filan 🇺🇸🇮🇪 126k (beware of imposters) (@FilanLaw) November 28, 2022
Later, both parties are expected to meet on December 2 to discuss corrections to their response summaries. After that, the corrected version of the responses will be made public on December 5, according to the original timeline approved by the court. However, James K. Filan argues that corrected responses may come sooner, as the opening motions for summary resolutions are submitted earlier on September 17, instead of the deadline of September 19.
Compromise signal
Likewise, Filan states that objections to summary resolutions were made on September 21, instead of the deadline of September 24. So there are gaps of 2 and 3 days. It therefore assumes that corrected responses to summary resolutions can be submitted by Friday, December 2. As expectations for a speedy resolution of the case rose, James K. Filan had previously predicted that District Judge Torres would rule on both expert motions and summary judgments simultaneously on or before March 31, 2023.
cryptocoin.com As we reported, Ripple CEO Brad Garlinghouse pointed out the possibility of a compromise given that XRP is non-securities. According to the lawyer, if the briefings are concluded in November, there is a possibility that the case will be concluded in the next 2-3 months. However, it is also a reality that the result process may extend until the first half of 2023.
There are new developments for XRP Ledger
While the Ripple and SEC lawsuit continues, developments in the XRP ecosystem do not slow down. The latest news came from XRPayNet, a payment solution built on XRP Ledger (XRPL). It has partnered with three firms to help hundreds of businesses in the United Arab Emirates (UAE) set up a payment system. In a recent announcement, XRPayNet stated that its CEO, Kristian Poliszczuk, has partnered with Dubai-based ChainTech Labs, BAPESCLAN and Esposito Intellectual Enterprises for the venture.
