The legal tussle between Ripple, the San Francisco-based payment firm, and the United States Securities and Exchange Commission (SEC) has lasted for more than a year. The actual time the lawsuit would end has become a subject of speculation.
In an opinion post some days ago, Attorney Jeremy Hogan, who has been following the securities lawsuit from day one, believes that the legal tussle would end before April 2022.
In response to a question from a supposed XRP community member, who asked for a time he expects the lawsuit between Ripple and SEC to end, Hogan stated that the case could end before the summer.
Jeremy Hogan tweeted, “April is my best estimate. I very much doubt the Ripple case could be strung past summer even in a worst case scenario.”
Jeremy Hogan’s prediction corroborates Ripple CEO’s stance on when the lawsuit could end. According to Brad Garlinghouse, there has been good progress in the Ripple-SEC lawsuit.
In an interview with CNBC, Garlinghouse said he expects a conclusion to the lawsuit in 2022, which may even trigger Initial Public Offering (IPO), a plan that has seemingly been on hold since the legal tussle began.
In the course of the interview, Ripple’s CEO showcased optimism in relation to the lawsuit, stating that the lawsuit has indeed taken much time but hopeful of an end soon.
Brad Garlinghouse noted,
“We’re seeing pretty good progress despite a slow-moving judicial process. Clearly we’re seeing good questions asked by the judge. And I think the judge realizes this is not just about Ripple, this will have broader implications.”
Back in late December 2020, the United States Securities and Exchange Commission (SEC) alleged that Ripple unlawfully conducted a security offering through its XRP sale, raising approximately $1.3 billion in the process.
As expected, the firm denied the allegation and has legally taken a strong position against the SEC’s claims.