In a New Development Ripple and SEC Publish Joint Schedule Order, As Lawsuit May Extend Till Next Year

The Securities and Exchange Commission (SEC) and blockchain company Ripple have finally filed a Joint Scheduling Order for the lawsuit.  

According to a recently filed letter published by attorney James K. Filan, the SEC, Ripple, and Individual Defendants, Chris Larsen and Brad Garlinghouse, agreed that all motions for summary judgment and to exclude experts’ testimony must be filed on or before August 2, 2022. 

The involved parties agreed that all opposition to any of the motions for summary judgment and those to discard expert testimony should be filed toward the end of the year and should not exceed November 2, 2022. 

Finally, replies in opposition to any of the motions must be filed by December 20, 2022, the parties agreed. 

An Exclusion

Notably, the recently filed Joint Scheduling Order will not involve motions to challenge the testimony of Anthony M. Bracco, who proposed available remedies in his expert report. 

Per the parties, any effort or motion to discard the testimony of Bracco will only be allowed until the issue of remedies is ready. 

Mixed Reaction 

Meanwhile, the recently released Joint Schedule Order has sparked mixed reaction among Ripple enthusiasts, with many of the project’s followers not happy about the scheduling. 

Many people argued that the blockchain company should have agreed on better schedules that will help put an end to the lawsuit as early as possible instead of dragging it toward the end of the year. 

Attorney Jeremy Hogan, a partner at Hogan & Hogan law firm, expressed his displeasure with the scheduling order as he compared Ripple’s lawsuit with that of LBRY. 

It is worth noting that both Ripple and LBRY are being charged by the Securities and Exchange Commission for breaching its laws. 

While the Ripple’s lawsuit started three months before the LBRY’s, the latter’s case will end six months before that of the popular blockchain company. 

In contrast, look at the SEC v. LBRY case schedule. The lawsuit was filed 3 months after the Ripple lawsuit and will finish 6 months sooner.

Everything about the Ripple case is strangely backwards. pic.twitter.com/Mr5pdSIuln

— Jeremy Hogan (@attorneyjeremy1) April 22, 2022

Hogan added that the Joint Schedule Order is similar to the worst-case scenario attorney Filan published a few weeks ago, which potentially drags the Ripple lawsuit to 2023 since both parties may at some point request for an extension of time. 

This schedule is the exact WORST case scenario that Attorney Filan posted the other day.

The Ripple case is going into 2023.

I've NEVER seen a Plaintiff want to delay a case this much. Only Defendants (normally) delay. Why bring a case and then postpone the justice you seek? /1 https://t.co/TUcJhME9oE

— Jeremy Hogan (@attorneyjeremy1) April 22, 2022

Meanwhile, attorney Filan stated that he believes Ripple agreeing to a longer scheduling date could be a result of a trade-off. 

For Filan, Ripple may have agreed to eliminate the pre-motion Rule 56 practice, which resulted in a jointly agreed scheduling order. 

#XRPCommunity #SECGov v. #Ripple #XRP Many people are questioning why Ripple agreed to this schedule. My gut feeling is that there was a trade off. A longer briefing schedule but the elimination of the pre-motion Rule 56 practice. If Ripple didn’t agree, there would be more

— James K. Filan ????90k+ (beware of imposters) (@FilanLaw) April 22, 2022