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

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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. 

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. 

 

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. 

 

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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