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“The case continues to move forward. We are expecting some decisions from the court, you know, sooner rather than later,” Garlinghouse recently told Fox Business.
For a while, it seemed like a no-brainer that the US Securities and Exchange Commission had the upper hand in the legal battle. But the scenario changed in recent months as Ripple cinched a series of procedural wins. Following the shake-up, legal experts believe the upcoming rulings will clear the uncertainty over the nature of the XRP cryptocurrency.
With neither Ripple nor the SEC looking to back down, the case is possibly headed for trial. Notably, the expert discovery process was concluded on Monday (February, 28) after several delays.
Multiple Decisions Expected
As of now, Ripple fans are awaiting the judge’s ruling on the SEC’s motion to strike the payments firm’s key fair notice defense. Additionally, Judge Analisa Torres has not yet ruled on the two motions to throw out the lawsuit filed by individual defendants Garlinghouse and executive chairman Chris Larsen.
 
 
Magistrate Judge Sarah Netburn is also primed to decide on the agency’s motion for reconsideration regarding the release of emails containing a draft of the June 2018 speech delivered by William Hinman.
The court’s ruling on the “Estabrook Notes” is another much-awaited judgment. As ZyCrypto previously reported, these notes are from a meeting between the Ripple CEO and former SEC official Elad Roisman. They will show whether or not Garlinghouse knew all along that XRP tokens were unregistered securities.
Much is riding on the outcome of the ongoing Ripple legal scuffle with the SEC. Meanwhile, founder of CryptoLaw John Deaton believes the next court rulings could prompt the securities watchdog to settle with Ripple.
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