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Ripple v. SEC: Some Timelines May Arrive Sooner, Here's What to Know

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Tue, 29/11/2022 - 10:07
Ripple v. SEC: Some Timelines May Arrive Sooner, Here's What to Know
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James K. Filan, a defense lawyer and former federal prosecutor, opines that some timelines might come earlier in the ongoing Ripple lawsuit. The timing that he believes might be shifting pertains to the date on which redacted replies to the summary judgment would be filed.

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In the sequence of events, both parties are expected to file their replies to the summary judgment motions by Nov. 30. These replies would be filed under seal within a page limit of 55 pages and would also contain responses to the amicus briefs.

Subsequently, both parties are expected to meet and confer to identify redactions to the reply briefs on Dec. 2. After this, the redacted version of the replies would be made public on Dec. 5, according to the original timeline of events approved by the court.

James K. Filan posits that since the opening motions for summary judgments were filed early, on Sept. 17 rather than the Sept. 19 deadline, the redacted replies might come in earlier.

Likewise, Filan notes that the set of oppositions to the summary judgment motions was filed on Sept. 21 rather than the Sept. 24 deadline. He postulates that the redacted replies to the summary judgment motions may be filed by Friday, Dec. 2.

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While expectations are rising for a quick resolution to the lawsuit, James K. Filan earlier predicted that District Judge Torres would rule on both the expert motions and the summary judgment motions at the same time, on or before March 31, 2023.

Ripple CEO Brad Garlinghouse once hinted at the possibility of a settlement if XRP is considered nonsecurity.

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According to him, there are chances that the lawsuit may be resolved in the next two to three months if briefings conclude by November. He is not, however, ruling out the possibility that it might take longer, predicting a resolution in the first half of 2023.

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