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Ripple Lawsuit: Important Court Dates Coming, Here's What to Know

Thu, 11/24/2022 - 11:27
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Tomiwabold Olajide
Another important deadline approaches
Ripple Lawsuit: Important Court Dates Coming, Here's What to Know
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On Oct. 21, Ripple announced to the joy of its community that it finally had the long-demanded Hinman documents. William Hinman, a former SEC employee, declared Ethereum not to be a security in a 2018 lecture.

According to Ripple general counsel Stuart Alderoty, who broke the news, the documents, which comprise internal SEC emails and drafts of the former director of corporation finance's infamous 2018 speech, remain sealed from the public.

Ripple Lawsuit: New Dates Set in Motion, Here Are Key Changes

The replies to the summary judgment motions are expected to come in by Nov. 30, according to an updated timeline of events shared by James K. Filan, by which time all briefings will be complete and Judge Torres' final decision will be expected.

Dec. 5: Important date

Another important deadline approaching is Dec. 5, when redacted reply briefs will be made public. There is speculation about whether the reply briefs would comprise the Hinman emails.

Attorney Fred Rispoli, a participant in the Ripple lawsuit who filed a motion to appear pro hac vice on behalf of Reaper Financial, expects to see the emails in the reply briefs, but they will be redacted.

While there are positive hopes for a settlement in the case, Ripple CEO Brad Garlinghouse says that this would only be possible if XRP is considered a nonsecurity. Garlinghouse expects the case to conclude in the first half of 2023.

Former federal prosecutor and defense lawyer James K. Filan predicts that District Judge Torres will decide both the expert motions and the summary judgment motions simultaneously, on or before March 31, 2023.

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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.