In May 2018, Ripple was sued for allegedly “leading to a conspiracy to generate hundreds of millions of dollars through the unregistered sale of XRP tokens.” According to the lawsuit, “the firm produced billions of cryptocurrencies “out of nothing” and then made billions of dollars in profits through public sale. According to the latest developments, Ripple lawsuit extending to 2022 may close before the end of the year…
After surprise calendar change, Ripple lawsuit may close this year
The US Securities and Exchange Commission (SEC) against Ripple The judge presiding over his case made an unexpected schedule change. James K. Filan, a lawyer who has been following the case closely, says Judge Torres is changing the litigation schedule, which was previously scheduled to enter 2023:
Judge Torres is changing the proposed schedule. Requests to exclude expert testimony must be filed in full by 30 August 2022. Summary proceedings requests must be fully notified by 15 November 2022.
According to attorney and crypto expert Jeremy Hogan, the schedule change is due to Judge It shows that Torres wanted the case to be settled before Christmas:
Judge Torres, sua sponte (meaning ‘because he wants and can’ in fancy Latin), has postponed the schedule of summary judgments to November 15. What do I get from this? He wants the Ripple-SEC lawsuit to be over before Christmas.
“Many people question why Ripple accepted this program”
As we covered in the news of Kriptokoin.com, last week, lawyer James K. Filan, who closely followed the case, said that Ripple and the SEC’s He said they had reached an agreement to push the opening summaries back to August for summary judgment and expert appeals, and the closing summaries until a few days before Christmas. Jeremy Hogan says the settlement is a “worst-case scenario” for the case, and he has never seen a plaintiff in a case that pushes back the justice they seek.
However, Filan adds that Ripple’s acknowledgment of delay could benefit the company by allowing them to finally set a date and avoid further delays:
Many people like Ripple He questions why he accepted this program. I have a feeling it was a trade-off… If Ripple hadn’t accepted, there would have been more timing disputes that would have taken more time in my estimation, and Ripple would have lost this battle if there had been any past guide. Then the movement program would go well into 2023. In my opinion, this was a very smart move for Ripple to be locked into this program.
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