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SEC v. Ripple, ‘A Pleasant Surprise’: Judge Torres Modifies Joint Proposed Calendar To Probably End Lawsuit This Year

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Judge Torres Modifies Joint Proposed Calendar to Bring Final Verdict Closer Than Expected.


Judge Torres is in no mood for further delays as she wants a verdict reached as soon as possible.

The SEC v. Ripple lawsuit is currently one of the most talked-about cases in the cryptocurrency industry, as the outcome will become a major factor in determining the legal status of other digital currencies.

Ripple Community Tired of SEC’s Delay Tactics

While the world anticipates that a verdict would be reached before the end of this year, the Joint Schedule order published by the Ripple and SEC teams, pushes the case to next year, causing frustration among XRP holders, who are forced to endure a massive dip of the digital currency caused by the lawsuit.

On most occasions, the SEC has been accused of employing delay tactics to stall the conclusion of the lawsuit, in its bid to compel Ripple to bow to pressure and negotiate a settlement in favor of the securities agency.

Contrary to the SEC’s expectations, Ripple has held its ground, throwing everything it has, to ensure that justice is served.

Aside from the XRP and the general cryptocurrency community, Judge Analisa Torres, who is in-charge of the lawsuit, also seemed to be tired of the delays caused by the securities agency and is looking for every means to put an end to the lawsuit in earnest.

Judge Torres Listens to Ripple Enthusiasts’ Demands

In a surprising development shared by attorney James K. Filan, a former U.S. prosecutor, Judge Torres, in response to the Joint Schedule order letter written by the SEC and Ripple, made some favorable modifications to the proposed calendar.

According to Judge Torres’ order, all motions to exclude expert testimony, including replies opposing the motions filed by any of the parties, must be submitted by August 30, 2022.

Judge Torres also ordered that the motions to discard expert testimony and responses should not exceed 15 pages per slide.

Similarly, Judge Torres also ordered that motions for summary judgment must be fully briefed by November 15, 2022.

Previous Joint Request

It is worth noting that prior to the recent order, the parties had proposed in the Joint Schedule calendar that the motions to exclude expert testimony and summary judgment be filed by August 2, 2022, and November 2, 2022, respectively.

The parties also proposed that replies to any of the motions must be submitted by December 20, 2022. However, Judge Torres is eager to give the XRP community an outcome sooner than they expect.

Reacting to the development, attorney Jeremy Hogan, a partner at Hogan & Hogan law firm, said:

OH! That’s a pleasant surprise. Judge Torres has, sua sponte (fancy Latin for “because she wants to and can”), moved up the schedule for summary judgment briefs to November 15. What do I take from that?  She wants the Ripple v. SEC case over before Christmas.”

The ripple community admires Judge Torres for giving the XRP community hope that the Ripple lawsuit could end this year.

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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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