The crucial lawsuit between US SEC and Ripple is getting intense as many industry leaders are trying to get involved in court proceedings. People concerned with the Ripple lawsuit are expecting that there might be a delay in the Summary Judgement rulings. However, XRP holders’ lawyer have cleared the air over this matter.
Attorney drops positive XRP news
XRP community is expecting that there might be a ruling on the SEC’s and Ripple’s motions for summary judgment by November 18, 2022. Meanwhile, they think that it might take much longer than this. John Deaton, Amicus Curiae in the Ripple lawsuit highlights some crucial dates of court proceedings ahead.
Deaton mentioned that there will be no ruling by that date. The reply briefs are due on November 15, 2022. This will be submitted under a seal. However, the redacted public versions will be out by November 21.
XRP holders’ lawyer stated that there is a slight possibility that the SEC can ask for a few extra additional days. The commission might also add some extra pages in order to reply to all the Amici filings.
Deaton hoped that if Judge Analisa Torres handles the Ripple lawsuit consistent with other cases then there is a chance to see a decision by maybe March 2023. Meanwhile, if Judge Torres decides to review this lawsuit in an expedited fashion then there is a chance of getting a ruling earlier than that.
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Defendants gains momentum in the case
However, the SEC vs Ripple lawsuit has seen a wave of individuals and firms trying to enter the Summary judgment proceedings. The court has even granted permission to several applicants to file Amicus briefs.
Coingape reported that Coinbase has asked the court for leave to file Amicus Briefs in the support of Ripple. However, four other firms came ahead to file Amicus Briefs in the support of Ripple.
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