The Ripple-SEC case appears to be moving forward steadily
In response Amid ongoing rumors related to an impending settlement in the Ripple-SEC lawsuit, Cryptolaw founder John Deaton says he doesn’t see a settlement occurring within the next 30 days. The Ripple-SEC case seems to be progressing steadily, given the current favorable developments.
According to a recent tweet by Fox journalist Eleanor Terrett, SEC staff are losing faith in the agency’s ability to win the case. A source close to the SEC told Terrett that Commissioner Hester “Crypto Mom” Peirce indicated private concerns that the SEC might not achieve the outcome it is looking for.
As previously reported by U.Today, Ripple CEO Brad Garlinghouse said that Ripple is awaiting court rulings. The court has yet to rule on the Securities and Exchange Commission’s pending decision to remove Ripple’s fair notice defense. Judge Sarah Netburn’s expected verdict on the SEC’s motion for reconsideration, called “the biggest decision” in the case by John Deaton, is also awaited by Ripple and the XRP community.
Judge Analisa Torres is also yet to rule on the individual defendants’ applications to dismiss the lawsuit (Brad Garlinghouse and Ripple co-founder Chris Larsen). If the individual defendants’ requests to dismiss the complaint are refused, Ripple may pursue additional discovery, according to John Deaton.
In recent tweets, attorney Jeremy Hogan predicted when the Ripple-SEC lawsuit could end. According to Hogan, Ripple anticipates that the trial could end between August 26 and November 18. He went on to remark that the case could be settled at any time, implying that no agreement has been reached.
The XRP-friendly attorney posted a document in early March detailing a few rules that the SEC and Ripple might follow, including a face-to-face or video-conferencing meeting to negotiate a settlement within fourteen days of fact discovery.
Hogan also said he thinks settlement talks could take place in April or May. He said the last settlement discussion, which took place a few months ago, was unsuccessful and the next most likely time for settlement would be in mediation. Hogan also predicts a summary judgment hearing in September.
