The highly anticipated summary judgement (SJ) in the legal dispute between American blockchain payments company Ripple Labs Inc and the Securities and Exchange Commission (SEC) appears to be wearing thin among the XRP community. Seven months into the waiting period, XRP holders’ attorney John Deaton has provided some important information to consider.
Deaton’s consolatory facts
John Deaton said that Ripple Labs is not the only company awaiting a ruling from Judge Analisa Torres in order to stop people from making snap judgements. When Ripple Labs and the SEC issued their own papers, Deaton noted the Thor Equities matter as another one that Judge Torres was now hearing.
The community’s frustration increased when Deaton disclosed that the summary judgement decision by Judge Torres in the New York District Carpenter’s Fund case took more than eight months from the reply briefs.
The Ripple v. SEC case has been ongoing for more than two years, and the community is keen to put this incident behind them and steer the company, XRP, and its related inventions on a new growth path. John Deaton told the community that Judge Torres may be taking her time because she is conscious of the gravity of her ruling. John Deaton is a passionate supporter and stakeholder with an interest in the case.
Potential end in sight?
The dispute ought to have been settled by now, according to prior predictions made by both John Deaton and Brad Garlinghouse, CEO of Ripple Labs. Now that public expectations have increased, experts are not making any new forecasts about when the case would be resolved.
However, depending on who the summary judgement would ultimately favour, a number of scenarios have been envisioned. Generally speaking, a possible appeal to the Supreme Court is not excluded, which would add an additional five years to the time it takes for the case to be resolved.
