The legal tussle between Ripple, the San Francisco-based cross-border payment firm and the United States Securities and Exchange Commission (SEC) over alleged sales of XRP as an unregistered security, started on the 20th of December 2020 and will clock two years in the next few months.
Despite the anticipation of the XRP community members to see the end of the lawsuit as soon as possible, they will have to wait until next year, considering the recent timeline shared by the attorney James K. Filan, a defense lawyer and former U.S. prosecutor.
Read Also: Brad Garlinghouse: Ripple To Consider Going Public after Legal Tussle with SEC
According to James K. Filan’s suggestion in the recent update posted on Twitter, the lawsuit between Ripple Inc. and the United States SEC is likely to end on or before the 31st of March 2023.
Captioning the screenshot of the update, James K. Filan tweeted, “SEC v. Ripple XRP Updated schedule and status as of May 26, 2022.”
#XRPCommunity #SECGov v. #Ripple #XRP Updated schedule and status as of May 26, 2022. pic.twitter.com/jkRopw0nFG
— James K. Filan 🇺🇸🇮🇪96k+ (beware of imposters) (@FilanLaw) May 26, 2022
In the updated schedule shared above by the legal expert, James K. Filan, it’s said that there are a number of outstanding issues which could delay the lawsuit until March next year.
These issues include:
- the decision by Magistrate Judge Netburn on the SEC’s claim that all of the Hinman documents are protected by the attorney-client privilege and, connected to that.
- the objection to Magistrate Judge Netburn’s DPP ruling.
- the Ripple Defendants’ Motion to Compel the SEC to answer or amend their answers to certain Requests for Admission.
- the Motion for Attorney’s Fees connected to the Metz supplemental Report.
- the motion by Amici to participate in the Motion to exclude Expert Testimony (“Daubert” challenges).
- the Motions to Exclude Expert Testimony.
- the Motions to Exclude for Summary Judgment.
Read Also: Brad Garlinghouse: The Victory for Ripple and XRP Is a Victory for the Entire Crypto Industry
Based on the issues listed above and expatiated in the update, James K. Filan concluded that the Expert Motions and Summary Judgment motions may have to wait until March 31, 2023.
James K. Filan noted:
“We are continuing to make progress and we will have more information over the coming months. We will see various issues decided at various times in the next few months, but my prediction remains that Judge Torres will decide both the Expert Motions and the summary Judgment motions at the same time – on or before March 31, 2023.”
Follow us on Twitter, Facebook, Telegram, and Google News
