Ripple CTO David Schwartz shared his own predictions regarding the SEC-Ripple case, which is expected to end this year…
SEC-Ripple lawsuit at critical juncture
In December 2020, the SEC sued Ripple Labs, the company behind XRP, and its executives. The US regulator claims the company and two executives raised over $1.3 billion through an unregistered offering of securities. In the latest developments from the case, a critical document in favor of XRP has been made public with court approval, which William Hinman said in 2018.
David Schwartz’s predictions for the outcome of the lawsuit came in response to the controversy started by John E Deaton, a pro-XRP attorney on Twitter.
Deaton made the following statements in a long tweet thread, addressing the latest status of the case:
Ripple and SEC Response Summaries were filed in December. Judge Torres’s verdict is now in the 7th month. But Ripple isn’t the only one waiting. In the Thor Equities case, also in the presence of Judge Torres, the Answer Files were also presented in December. Judge Torres has yet to rule.
In short, there are other cases and examples that take equal time, although I and others believe we will see a verdict before this one. Judge Torres is probably aware of the enormity of his decision.
David Schwartz made history
Ripple CTO suggests that we will have to wait “until the end of September”.
Following this comment, attorney Deaton said, “I agree. On September 31, Judge Torres will be placed on the 6-month list for the first time. So his decision will be pending for more than 9 months. I haven’t looked into every single case he’s had. However, I could not find any cases that were longer than 9 months. Although only one was a little longer than 8 months,” he said.
Experts predict SEC-Ripple lawsuit will end in September
Hogan previously said that the judge in the Ripple case makes important decisions about every 9 weeks. Therefore, he predicted that the final decision would first appear in mid-July.
Ripple CTO says September is the most likely date:
I know it’s frustrating to wait and we all would love to make a decision on summary resolutions as soon as possible, but I don’t think anything is wrong, unusual or weird, at least by the end of September.
CEO Brad Garlinghouse said the result would be out within weeks.
cryptocoin.com As we have reported, Ripple CEO Brad Garlinghouse announced in May that the case would be over in a few weeks. In light of this claim, a Twitter member told lawyer Hogan, “Brad Garlinghouse said it would be over in weeks on May 24. Not months. Now it’s July and you’re suggesting September,” he asked. Hogan responded to this comment as follows:
Brad is a great CEO, but not a prophet. His lawyers probably told him the same thing as me and at least 5 other lawyers following the case. What many don’t consider is that Judge Torres has 500 open cases.
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