Considering the euphoria within the XRP community, things seem to be advancing in favor of Ripple, the US-based cross-border payment firm, in its ongoing lawsuit with the United States Securities and Exchange Commission (SEC).
According to Attorney Jeremy Hogan, who has shown intense support for Ripple and XRP since the start of the lawsuit filed by the SEC, the cross-border payment firm just did the hardest hitting since the litigation began.
Hogan said this in reaction to the update shared by James K. Filan, the defense lawyer and former federal prosecutor, about the recent action taken by Ripple and its co-defendants (precisely CEO Brad Garlinghouse and co-founder Chris Larsen).
According to Filan in the trending tweet, Ripple and individual defendants just filed their opposition to the SEC’s motion for partial reconsideration and clarification of Judge Netburn’s DPP ruling.
The defense lawyer sees this as a huge move as the XRP community waits in anticipation for the end of the lawsuit that started in December 2020.
James K. Filan tweeted, “#XRPCommunity #SECGov v. #Ripple #XRP Ripple and the Individual Defendants have filed their Opposition to the SEC’s Motion for Partial Reconsideration and Clarification of Judge Netburn’s DPP Ruling, noting that the SEC is simply seeking a “do-over.”
#XRPCommunity #SECGov v. #Ripple #XRP Ripple and the Individual Defendants have filed their Opposition to the SEC's Motion for Partial Reconsideration and Clarification of Judge Netburn's DPP Ruling, noting that the SEC is simply seeking a "do-over."https://t.co/9D2esv0Key
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) February 25, 2022
SEC Has Spun Itself a Tangled Web
Reacting to the new development, Attorney Jeremy Hogan said there may be no way out for the SEC this time. He pointed out that he sees the move as Ripple’s hardest-hitting since the lawsuit started.
Jeremy Hogan tweeted, “Wow. I expected Ripple to come out swinging and this brief did NOT disappoint. #mattsolomon. This is the hardest hitting brief thus far in the litigation – and rightfully so. The SEC has spun itself a tangled web here and I don’t expect the judge to help them out of it.”
Wow. I expected Ripple to come out swinging and this brief did NOT disappoint. #mattsolomon
This is the hardest hitting brief thus far in the litigation – and rightfully so.
The SEC has spun itself a tangled web here and I don't expect the judge to help them out of it. https://t.co/LM7SXkq273
— Jeremy Hogan (@attorneyjeremy1) February 25, 2022
The recent move has made many speculate on the possibility for the lawsuit to end earlier than expected. Many are also foreseeing that the case would end in settlement.
Meanwhile, Analisa Torres, the United States District Judge, has denied the application letter from the SEC to strike out Ripple’s fourth affirmative defense, a move many termed as delay tactics deployed by the SEC.
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