Earlier in the ripple news it was read that a ruling in the infamous XRP lawsuit will not follow until 2023. But now the judge has moved the planning forward again. Attorney Jeremy Hogan expects the case to be completed before Christmas.
When will the XRP lawsuit end?
As mentioned, it appeared that the lawsuit between Ripple and the Securities and Exchange Commission (SEC) would not end until next year. The case was brought by the SEC because it considers XRP to be securities. Therefore, Ripple is said to have illegally sold securities to investors.
The proposed schedule submitted on April 23 showed that a resolution can only follow in 2023. Ripple’s legal advisor lashed out:
“Now it looks like there will be a resolution in 2023 — and every day that goes by hurts American citizens who were essentially victims of a back pull by the SEC. $15 billion in XRP market cap was destroyed the day the lawsuit was filed, hurting the very people the SEC claims to protect.”
Judge XRP lawsuit advances several parts
However, there is still hope that we will see an end this year. Judge Torres has adjusted the proposed schedule in several parts. Attorney Jeremy Hogan, who is closely following the case, draws the following conclusion:
“OH! That’s a pleasant surprise. Judge Torres has, sua sponte (nice Latin for “because she will and can”), postponed the schedule for the summary judgment briefs to November 15. What do I get out of that? She wants the Ripple v. SEC case done before Christmas.”
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.
— Jeremy Hogan (@attorneyjeremy1) Apr 28, 2022