Judge Approving Multiple Amicus Briefs In Ripple Vs. SEC Show Complex Nature of Lawsuit.
Attorney Hogan said the Judge has continued to allow multiple amicus briefs in the case because she understands that the lawsuit is complicated.
Attorney Jeremy Hogan, a Partner at Hogan & Hogan law firm, took to Twitter to explain why U.S. District Judge Analisa Torres has allowed many amicus briefs in the Ripple vs. SEC lawsuit. According to attorney Hogan, amicus briefs are usually filed in top-level courts where complicated issues are resolved.
Why is it important that numerous Amicus Briefs ("AB") have been filed in the Ripple v. SEC case?
An AB is called a "Friend of the Court" and historically, ABs have been filed only in appellate and "top" level courts where difficult issues are being resolved. 1/3
— Jeremy Hogan (@attorneyjeremy1) October 30, 2022
Attorney Hogan’s Position
It is noteworthy that several amicus briefs have been filed in a trial-level cases like the Ripple vs. SEC lawsuit. For attorney Hogan, Judge Torres allowed many amicus briefs in the ongoing lawsuit because she understands the complexity of the case.
“The Judge’s liberal allowance of Amicus Briefs in this trial level case would suggest that she understands that the issues involved are complicated, novel and that the ruling will affect a large group of people and/or industry,” he said.
Attorney Hogan believes it is good that Judge Torres understands that the lawsuit’s outcome will affect a large group of people and an entire industry.
If Ripple wins the suit, the SEC will be prompted to establish clearer regulations for cryptos to thrive. However, if the blockchain company loses the suit, the SEC may continue its regulation by enforcement approach in the industry.
Judge Torres Allows Multiple Amicus Briefs
In recent months, Judge Torres has allowed several third parties to file amicus briefs in support of Ripple’s case against the Securities and Exchange Commission.
Recall that Judge Torres allowed amicus briefs from the Chamber of Digital Commerce, TapJets, and I-Remit. Last week, she also granted the requests of SpendTheBits and the Investors Choice Advocates Network (ICAN) to file briefs in support of Ripple.
The Blockchain Association requested to file an amicus brief supporting Ripple on Friday. These third parties are interested in the lawsuit’s outcome because they believe it will affect their businesses and the entire cryptocurrency industry.
Hogan recently mocked SEC, saying don’t the federal agency had one friend to support it against Ripple.
The highest number of ABs filed in any lawsuit was in the 80s; back then, 78 amicus briefs were filed in an abortion case, thus making it the highest number of amicus briefs filed in a single case.