Top Attorney Thinks Judge Torres Has Drafted Large Portion of SEC vs. Ripple Judgment

Hogan believes the language used in the recent ruling suggests that a large portion of the summary judgment has been drafted.

Judge Analisa Torres’ ruling on the parties’ motion to seal is currently the hottest topic in the XRP community. As reported by Crypto Basic, Judge Torres denied the SEC’s motion to seal the drafts of William Hinman’s 2018 controversial speech, where he declared Bitcoin (BTC) and Ethereum as non-securities.

Furthermore, the judge denied Ripple’s request to seal financial information regarding its XRP sales to On-Demand Liquidity (ODL) clients and the amount the Silicon Valley-based tech firm paid to crypto trading platforms to list the coin.

XRP Enthusiasts Eagerly Expecting Summary Judgment

It is worth noting that Judge Torres also ruled on third parties’ sealing requests. Enthusiasts of the sixth-largest cryptocurrency by market cap have taken to Twitter to react to Judge Torres’ decision on the parties’ sealing requests.

Some XRP fans have expressed excitement over the court’s decision to deny SEC’s motion to seal the internal deliberations related to Hinman’s speech. 

However, other XRP supporters are more concerned about getting the summary judgment, which might put an end to the legal battle that has lingered for more than two years.

Hogan Thinks Court Has Drafted a Large Portion of the Final Decision

Attorney Jeremy Hogan, a partner of the law firm Hogan & Hogan, thinks the language used in the recent ruling suggests that “a large portion of the order on summary judgment” has already been drafted.

He asked XRP community members whether they also had similar observations while reading through Judge Torres’ ruling on the parties’ sealing requests. 

“Did anyone else reading the SEC v. Ripple Order on ‘sealing’ today thinks that the language reads as though at least a large portion of the Order on Summary Judgment has already been drafted?” Hogan said.

The pro-XRP lawyer shared evidence showing different portions of the sealing ruling where Judge Torres noted that certain issues have “minimal relevance to the court’s decision on summary judgment.”

Did anyone else reading the SEC v. Ripple Order on "sealing" today think that the language reads as though at least a large portion of the Order on Summary Judgment has already been drafted?

Anyone?

Bueller? pic.twitter.com/riCvme9fap

— Jeremy Hogan (@attorneyjeremy1) May 17, 2023

Hogan Highlights Possible Ruling

Attorney Hogan’s tweet prompted reactions from XRP community members. An XRP enthusiast called on Hogan to provide a legal analysis on whether Ripple won the lawsuit based on the language used in the ruling on the parties’ sealing requests.

Responding to the question, Hogan said he conjectured the remark to imply that Ripple has either won or lost the lawsuit. He added that the statement could mean the blockchain company lost and still won the case. Per Hogan, the statement also implies that Ripple lost the case entirely while the XRP community won, especially if the court rules that secondary market transactions are not securities.

I conjecture this means Ripple has either lost or won. But that it could have lost and still win. Or that it could have lost – lost and we, as XRP holders, still won.

— Jeremy Hogan (@attorneyjeremy1) May 17, 2023

Meanwhile, there is still no exact date for the summary judgment on the SEC vs. Ripple lawsuit. The summary judgment is expected to come anytime, especially as the judge has ruled on the parties’ Daubert motions and sealing requests.