Crypto Legal Expert Jeremy Hogan: SEC vs Ripple Lawsuit Could Drag Until 2023
According to attorney Jeremy Hogan, the legal case between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) might have taken a major step backwards.
Hogan shared with his 205.1K followers on Twitter that a very unusual court schedule delay request by the SEC is likely to lengthen the process until next year.
“This schedule is the exact WORST-case scenario that attorney Filan posted the other day.
The Ripple case is going into 2023.
I’ve NEVER seen a plaintiff want to delay a case this much. Only defendants (normally) delay. Why bring a case and then postpone the justice you seek?”
In contrast, look at the SEC v. LBRY case schedule. The lawsuit was filed 3 months after the Ripple lawsuit and will finish 6 months sooner.
Hogan makes a comparison between schedules of SEC’s lawsuit against Ripple to its suit against decentralized video-hosting platform LBRY, saying that there is huge discrepancy between when the two cases were filed and when they are planned to finish.
“In contrast, look at the SEC v. LBRY case schedule. The lawsuit was filed three months after the Ripple lawsuit and will finish six months sooner.
Everything about the Ripple case is strangely backwards.”
A fellow attorney, James K. Filan, who is also closely following the SEC vs. Ripple lawsuit, noted that both parties jointly filed to delay opening briefs for summary judgment and expert challenges to August and closing briefs to a few days before Christmas.
He further speculated that agreeing to the delay might have been a smart move by Ripple Labs to finally agree in a firm deadline.
“Many people are questioning why Ripple agreed to this schedule. My gut feeling is that there was a trade-off. A longer briefing schedule but the elimination of the pre-motion Rule 56 practice. If Ripple didn’t agree, there would be more scheduling disputes that in my estimation would have taken up even more time and Ripple would have lost that battle if the past is any guide. Then the motion schedule would have gone well into 2023. In my opinion, this was a very smart move by Ripple in locking in this schedule.”
#XRPCommunity#SECGov v. #Ripple#XRP Many people are questioning why Ripple agreed to this schedule. My gut feeling is that there was a trade off. A longer briefing schedule but the elimination of the pre-motion Rule 56 practice. If Ripple didn’t agree, there would be more
