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Ripple CEO's Attorney Withdraws From Case: Details

Sat, 12/17/2022 - 15:41
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Tomiwabold Olajide
Ripple defendant's counsel pulls out from SEC lawsuit
Ripple CEO's Attorney Withdraws From Case: Details
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In the ongoing Ripple lawsuit, attorney Nicole Tatz has filed a Motion to Withdraw as Counsel for Ripple CEO Brad Garlinghouse. This comes as she departs from the law firm Cleary Gottlieb Steen & Hamilton LLP, which is representing the Ripple CEO in the ongoing case.

Meanwhile, all other parties remain involved in the case. In December 2020, the SEC filed its lawsuit against Ripple Labs, and two of its executives, CEO Bradley Garlinghouse and co-founder Christian Larsen, were accused of misleading XRP investors by selling $1.3 billion in unregistered security offerings.

In April 2021, the two executives moved to have the individual lawsuits filed against them dismissed. The response did not come until March this year, when the individual defendants' motion to have the lawsuit against them dismissed was denied.

Were Ripple Executives Reckless? Crypto Lawyer Stirs up Striking Facts in Lawsuit

In the Ripple-SEC case, motions for summary judgment have now been fully briefed, as the final submission has already been made. Ripple is asking the judge to rule in its favor, with the verdict expected in early 2023, according to James K. Filan's prediction.

Ripple CEO Brad Garlinghouse expects the case not to go to trial and predicts a resolution in the first half of 2023. Members of the XRP community keep their fingers crossed for a favorable ruling.

In other news, Ripple says it has extended the deadline for the submission of NFT project applications for the Ripple Creator Fund till Jan. 18, 2023. The Creator Fund is open to various talents, such as musicians and fashion designers.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.