SEC vs. Ripple Legal Battle Pushed to 2023; XRP Bearish -Breaking
[ad_1]
SEC vs. Ripple Legal War Purged to 2023; XRP Bearish- The SEC and I have reached an agreement to extend the litigation.
- In a joint request, both parties wrote Judge Sarah Netburn for an extension.
- XRP is currently in bearish territory after a week.
Ripple and SEC reached an agreement to increase the timeframe of their suit in light of the recent developments in US Securities and Exchange Commission lawsuit (SEC vs. Ripple). This means that court proceedings are now delayed to the end 2022.
The parties requested this extension jointly in a written request to Judge Sarah Netburn who is currently presiding. The revised schedule has been approved by Judge Netburn.
James Filan, the defense attorney, shared with us a copy of a written agreement by both sides to change their scheduling dates.
#XRPCommunity v. #Ripple Parties submit a joint scheduling letter proposing opening briefs to be heard in summary judgement and expert challenges by August, and closing briefs a few weeks before Christmas. pic.twitter.com/DBVkl3LQXU
— James K. Filan 90k+ (beware of imposters) (@FilanLaw) April 22, 2022
Ripple defense lawyer, Stuart Alderoty, remarked:
To all that have been following the case thus far – thank you. You should know that Ripple (and Court) are trying hard to settle the case as quickly as possible, in spite of the SEC and doing all they can to delay.
To all that have been following the case thus far – thank you. You should know that Ripple (and Court) are trying hard to settle the case soon, in spite of the SEC and doing all they can to delay it. https://t.co/bP0shaNBOa
— Stuart Alderoty (@s_alderoty) April 22, 2022
Notably, the joint letter’s new provisions stipulate the defense to file statements and any motions against expert witnesses by August 2, and objections must be filed by November 2. Any resistance must also be addressed by December 20.
It is interesting to note that this delay follows SEC’s second request for an extension to file an objection to Judge Netburn’s decision on the Motion for Reconsideration of the DPP Ruling. Also, this delay is also on the heels of Judge Netburn’s ruling in favor of the SEC to allow further expert testimony.
XRP’s week has been quite bearish. XRP lost 1.70% Saturday. XRP closed the day at $0.7055 after suffering a 2.6% drop on Friday. As of this writing, XRP was at $0.669455. That’s a drop of 5.1% in 24 hours.
The lawsuit was initiated by the SEC against Ripple Labs in 2020. This was for issuing and selling unlicensed securities — XRP coins — to the public. Since that time, Ripple vs. the SEC lawsuit has been front and center.
[ad_2]