Documents suggest Ripple is expecting the SEC lawsuit to conclude by Sep or Oct this year.
SEC-Ripple Lawsuit to Conclude by November
In a recent tweet Attorney Jeremy Hogan, overseeing the case proceedings very closely, addressed the question that when the SEC lawsuit against Ripple will end. In his estimation the lawsuit might conclude sometime between Aug. 26 and Nov. 18. Hogan reasoned, sharing a document: “In its pending class action, Ripple agreed to move the case start back to Nov. 18 in belief that the SEC case will be finished before then.” as he added the settlement might occur at any moment.
When will Ripple v. SEC case end?
Ripple thinks it will end sometime between Aug. 26 and Nov. 18.
In its pending class action, Ripple agreed to move the case start back to Nov. 18 in belief that the SEC case will be finished before then.
Of course, it can settle ANYTIME. pic.twitter.com/fVawdduiNs
— Jeremy Hogan (@attorneyjeremy1) March 6, 2022
Notably, the expert discovery phase has just ended on Feb 28, after having been rescheduled on multiple occasions.
How will the Lawsuit End and its After Effects
Ripple was struck with a SEC lawsuit back in Dec 2021. The US Securities Exchange Commission had alleged Ripple executives, CEO Garlinghouse and Co-Founder Larsen of Selling the company’s native token XRP as a security.
As a consequence Ripple suffered some significant damage initially, but stands in a strong position at the moment. Partially because of the weak lawsuit and partially because of Ripple’s aggressive defence. Recently Ripple’s CEO appeared in an interview on Fox Business. He opined that SEC has a rather hard argument against the company as he asserted Ripple executives often met with the SEC officials but they were never informed of SEC view on the nature of XRP and suddenly the SEC filed the lawsuit against Ripple for selling XRP as unregistered security.
While the lawsuit is at the moment tilting a bit towards the defendants, irrespective of the result the lawsuit is going to be a landmark case as far as the Crypto regulation in the US is concerned. In case if Ripple succeeded with its defense the agency will be effectively contained, and on the contrary if SEC emerges as a Victor, the agency will be further strengthened.