Ripple Vs SEC: XRP Lawyer Sees More Delays In The Case

Proceedings are much slower than Ripple wants 

Filan believes that SEC will continue its trend to delay the proceedings in the case. He said it would come as a surprise if the commission agrees to the motion without any obstacles. However, if both parties can agree to the conclusion then it will make the proceedings easy for the court.

The crucial lawsuit has already seen much delay in the proceedings. Meanwhile, the re-opening of the expert discovery until May 13 over Dr. Metz’s report and the defendant’s rebuttal report filing has been added to the delay list of the case.

Attorney Filan hints that both the parties will somehow summon each other reports. The revised reports are expected to be part of the summary judgment process.

 I don’t think we will see a schedule that contemplates briefing beginning in June. I think that a more realistic timeline for summary judgment motions would be opening briefs in either July or August

On April 20, Judge Netburn denied the production of the notes and said,

Judge Sarah Netburn denied Ripple’s motion; therefore the notes remained privileged. This is a blow to Ripple’s defense in the SEC’s case against the payment giant, and investors are now holding back as a result of the change in sentiment. 

Since Estabrook notes can no longer be accessed, it is a challenge to provide evidence of Ripple’s executives’ efforts to comply with the US securities law. The SEC cited privilege and refused access to the notes, landing a blow to the payment giant

Estabrook’s notes are no different from the notes the Court previously found to be protected by the privilege.

ARE THEY NOT AVAIABLE UNDER THE FREEDOM OF INFORMATION

Class actions against SEC to benefit from XRP case?

John Deaton, a lawyer representing XRP holders, said that the pre-motion letters filed by the SEC will be important for both sides. The letters could provide ongoing class actions against SEC with more information on what to review.

Deaton said that there are around 16 experts in this case. However, if the parties ask the judge to waive the pre-motions letters then the lawyers will have to wait or figure out a way to gain additional information.

Advertisement