Ripple CTO Gives Timeline for Summary Judgment, Says Nothing Wrong or Unusual Happening

Ripple CTO understands people’s frustration, as he expects the summary judgment decision for the SEC case to come before September ends.

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David Schwartz, CTO at Ripple, has revealed a possible timeline for the summary judgment decision in the ongoing Ripple lawsuit.

In a tweet yesterday, Schwartz expects Judge Analisa Torres, the presiding judge of SEC v. Ripple, to issue her decision on or before the end of September 2023.

Schwartz made this known while addressing the growing frustration within the XRP community regarding the ruling. Notably, XRP community members have anticipated Judge Torres’ decision since the beginning of the year.

As the decision continues to linger, some XRP enthusiasts have expressed frustration, alleging that something strange could happen behind the scenes.

Nothing Is Strange Until After September Ending

To calm the community, Schwartz said he understands that waiting for the summary judgment for months could be annoying, adding that everyone hopes the judge rules soon.

However, he does not believe anything is strange or unusual until the end of September 2023.

I know waiting is annoying and we'd all love to have a ruling on summary judgment motions as soon as possible, but I wouldn't think anything was wrong, unusual, or strange until at least the end of September.

— David "JoelKatz" Schwartz (@JoelKatz) July 10, 2023

The tweet suggests that Schwartz is expecting Judge Torres to issue the ruling before the end of the third quarter, or he would start thinking something is wrong.

Deaton Reacts

Interestingly, CryptoLaw founder attorney John Deaton agreed with Schwartz’s speculation. Per Deaton, if the judge does not rule by September 30, she will be placed on the six-month naughty judge list.

Additionally, Deaton said if Judge Torres does not rule before the end of September, her decision will be pending for nine months for the first time.

I agree. On September 31, Judge Torres would be placed on the 6 month naughty judge list for the first time and her decision would be pending over 9 months. I didn’t review every case she has had but I didn’t find any that were longer than 9 months (although one was slightly…

— John E Deaton (@JohnEDeaton1) July 10, 2023

It bears mentioning that Judge Torres’ decision for the Ripple case has been pending for seven months. Notably, the parties submitted their summary judgment replies in December 2022.

Judge Torres’ Delay in Other Cases

While the XRP community thinks her ruling is taking long, attorney Deaton revealed yesterday that the judge has also taken equal time to rule in other cases.

In his Twitter thread, attorney Deaton disclosed that Judge Torres has also not issued a ruling in Thor Equities’ case for seven months now. According to Deaton, the parties also filed their reply briefs in December 2022.

Furthermore, Deaton highlighted other cases where Judge Torres’ summary judgment decision lingered for more than six months.

For instance, in Quiller Inc. v. U.S.A, Judge Torres waited seven months from the reply briefs before ruling. In addition, Judge Torres’ decision in the New York District Carpenter’s fund case lingered for eight months.

In the N.Y. District Carpenter’s fund case, Judge Torres’ summary judgment ruling took over EIGHT MONTHS from the Reply Briefs.

— John E Deaton (@JohnEDeaton1) July 10, 2023

According to Deaton, Judge Torres is delaying the SEC v. Ripple ruling because she understands the magnitude of her decision.

Many believe Judge Torres’ decision will go a long way in deciding the fate of U.S. crypto regulations. A favorable ruling for Ripple might prompt Congress to provide clear rules for the industry. However, a ruling favoring the SEC will see the regulatory agency continue its adverse enforcement actions against crypto businesses.