After notable twists and turns, the Ripple & SEC lawsuit appears to be close to a closure
The rounds of closure hover around the first half of 2023, but the possibility of settlements appears fewer at the moment
The Ripple vs. SEC case is becoming more fascinating with every new update. While many speculations were coiled up related to the probable settlement, clarity on this could be fast approaching. The possible grounds wherein both parties may opt for a settlement are outspread within the space, which has given scope for many speculations.
It was somewhere in October when Judge Torres ordered to hand over the Hinman’s documents to Ripple when-in he declared Ethereum not to be a security. However, the company is yet to receive the documents, and this has laid too many speculations. Like this may be the main criteria for a settlement as they continue to remain sealed for the public.
As mentioned before, multiple amicus briefs were filed in favour of both parties and hence, it would be on December 05 2022, when these briefs will be made public but a redacted version.
According to Attorney Fred Rispoli, a participant in the lawsuit, the redacted or edited reply briefs will be open to the public initially. Meanwhile, the decision to undact the reply brief will be made over time. The replies to summary judgment are expected to come by November 30 post to which Judge Torres is expected to produce a judgement.
Meanwhile, the CEO of Ripple, Brad Gardlinghoues, believes a settlement from their end may be possible only if SEC considers it non-security. However, he believes the lawsuit will conclude during the first half of 2023. Besides, the defense lawyer, James K. Filan, predicts the case will meet its conclusion by the end of March 2023.
Written by: Sahana Vibhute