Judge In Ripple Lawsuit Aware Of SEC Ruling’s Massive Importance

John Deaton, a lawyer for XRP, says that U.S. District Judge Analisa Torres knows how important the case against Ripple by the U.S. Securities and Exchange Commission (SEC) is.

Deaton, who represented the XRP holders in the lawsuit, tells his 279,200 Twitter followers that it’s not unusual for Torres to take a long time to decide the case’s result.

“The Ripple and SEC Reply Briefs were filed in December. Thus, Judge Torres’ decision is now at seven months. Ripple isn’t the only one waiting, however. In the Thor Equities case, also before Judge Torres, the Reply Briefs were also filed in December. Judge Torres hasn’t yet ruled.

In the N.Y. District Carpenter’s fund case, Judge Torres’ summary judgment ruling took over EIGHT MONTHS from the Reply Briefs. Quiller Inc. vs U.S.A. took SEVEN months for Judge Torres’ decision. The Fitzgerald case, and several others I could name, took SIX months for Judge Torres to rule.

In short, although I, and others, believed that we would see a ruling before now, there are other cases and examples that have taken an equal amount of time. Judge Torres is likely aware of the magnitude of her decision.”

David Schwartz, who is in charge of technology at Ripple, agrees. He says it wouldn’t be strange if Torres didn’t rule on the parties’ moves for summary judgment until the end of September.

In late 2020, the SEC sued Ripple, saying that the payments company based in San Francisco offered XRP as an unregistered security.

In May, Brad Garlinghouse, the CEO of Ripple, said that a choice would be made in “weeks, not months.”