Blockchain-based payment company Ripple has hinted at a date the Securities and Exchange Commission’s lawsuit against them is expected to end.
According to a recent document shared by attorney Jeremy Hogan on Twitter, Ripple suggested that its case with the SEC would end before November 18, 2022.
When will Ripple v. SEC case end?
Ripple thinks it will end sometime between Aug. 26 and Nov. 18.
In its pending class action, Ripple agreed to move the case start back to Nov. 18 in belief that the SEC case will be finished before then.
Of course, it can settle ANYTIME. pic.twitter.com/fVawdduiNs
— Jeremy Hogan (@attorneyjeremy1) March 6, 2022
Per the document, the blockchain company requested that the commencement of its pending class action be rescheduled from the previously scheduled date of August 26, 2022, to November 18, 2022.
“Due to the overlap of factual and legal issues between this case and the SEC action, the parties agree that there are efficiencies in having certain aspects of the SEC action precede certain deadlines in this action,” excerpts of the document read.
Ripple added that rescheduling its pending class action would reduce the burden on the parties and the court by narrowing the issues in the dispute and streamlining discoveries in the case.
Commenting on the recent developments, attorney Hogan said:
“The document makes me feel more confident in my September summary judgment prediction. I think Ripple thinks [if] it wins the SEC case in September/October and then this class action goes away due to collateral estoppel.”
Predictions on the SEC Lawsuit
Since the SEC v. Ripple lawsuit started last year, several legal and cryptocurrency experts have weighed in on the case, speculating about the exact date the case is expected to end, as well as its outcome.
In January 2022, attorney John Deaton, a lawyer representing more than 65,000 XRP holders, speculated that the lawsuit might end next year due to delaying tactics being used by the SEC.
However, since attorney Deaton analyzed, several developments have occurred, mainly against the securities regulators.
Following the amount of evidence seen by Judge Sarah Netburn in camera, it is expected that the court will convince the SEC to participate in a mediation exercise that could see both parties agree to a settlement.
According to rumors, the settlement has already been reached in favor of Ripple’s blockchain company. SEC Lawsuit v. Ripple Reportedly Ends in Settlement, Ripple CEO Brad Garlinghouse also Gave a Hint.
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