Updated Timeline on Ripple/SEC Case From James K. Filan

The XRP community is blessed to have so many highly intelligent, skillful people active in the community.

It’s almost like it’s…decentralized or something!

The community also has a large group of attorneys helping us understand and process the complex litigation of the SEC vs. Ripple case.

We all know John Deaton (sign up for his Class Action lawsuit here if you haven’t yet).

Two other great legal voices are Jeremy Hogan and James K. Filan.

So when I saw Hogan retweeting Filan, it had my attention immediately.

James K. Filan gave a detailed 18-tweet (!) thread on how he sees the latest developments in the Ripple case and why there may still be several twists and turns to come.

And twists and turns take time.

As Jeremy Hogan says below, Filan is making sure we don’t get our hopes set too high:

This is a great thread from Att'y Filan which explains the New York court's process for scheduling Summary Judgment in the Ripple case.

He is preparing us for disappointment – with briefing not finished until later in the year. Either way, we shall have more info by Friday! https://t.co/CncOP3oVXl

— Jeremy Hogan (@attorneyjeremy1) April 20, 2022

Here is the original thread from James K. Filan that gives some really good info.

Thread  🧵 starts here:

#XRPCommunity #SECGov. v. #Ripple #XRP 1/ A SUMMARY JUDGMENT TIMELINE. I’m seeing a lot of discussion of timing projections for the filing of summary judgment motions and a decision on the motions. I thought I would weigh in because Judge Torres has a particular and very

— James K. Filan 🇺🇸🇮🇪90k+ (beware of imposters) (@FilanLaw) April 20, 2022

3/ First, any party that wants to move for summary judgment has to provide the other parties an electronic copy, in Microsoft Word format, of its Statement of Material Facts pursuant to Local Rule 56.1. A Local Rule 56.1 Statement is a “short and concise statement,

— James K. Filan 🇺🇸🇮🇪90k+ (beware of imposters) (@FilanLaw) April 20, 2022

5/ The party moving for summary judgment must at the same time provide the other parties any admissible evidence cited in its Rule 56.1 statement that has not previously been produced during discovery (they only have to produce evidence that is admissible so that would not

— James K. Filan 🇺🇸🇮🇪90k+ (beware of imposters) (@FilanLaw) April 20, 2022

7/ in the moving party’s Rule 56.1 Statement and then write its response directly beneath it. After that, the party moving for summary judgment has to e-mail (and file on the docket for us to see) a pre-motion letter to Judge Torres explaining to her the basis for its

— James K. Filan 🇺🇸🇮🇪90k+ (beware of imposters) (@FilanLaw) April 20, 2022

9/ on the docket a letter explaining why it is opposing the motion. After that, Judge Torres will review everything and inform the parties whether a motion for summary judgment is warranted and, if so, set a briefing schedule for the filing of the motions.

— James K. Filan 🇺🇸🇮🇪90k+ (beware of imposters) (@FilanLaw) April 20, 2022

11/ I have to think that Ripple, Brad and Chris would want to waive these requirements and will be pushing very hard for a faster schedule. But with the SEC delaying this case at every turn, you really must wonder if the SEC would ever agree to the waiver and make this

— James K. Filan 🇺🇸🇮🇪90k+ (beware of imposters) (@FilanLaw) April 20, 2022

13/ and the filing of the Ripple defendants’ supplemental rebuttal report. Also, I expect that the parties will challenge some of the other parties’ experts, although I expect that to be a part of the summary judgment process.

— James K. Filan 🇺🇸🇮🇪90k+ (beware of imposters) (@FilanLaw) April 20, 2022

15/ I don’t want you to be disappointed when the briefing schedule comes out. 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

— James K. Filan 🇺🇸🇮🇪90k+ (beware of imposters) (@FilanLaw) April 20, 2022

17/ I believe the Ripple defendants have said they are prepared to go forward on summary judgment before that issue is decided. And for reference, Judge Torres recently issued a summary judgment ruling in a complicated case involving gender discrimination claims against

— James K. Filan 🇺🇸🇮🇪90k+ (beware of imposters) (@FilanLaw) April 20, 2022

18/ Goldman Sachs. The briefing in that case was completed last November and the decision was issued in mid-March of this year.

The point is this is a complicated case and it will continue to take time – more time than we want. End.

— James K. Filan 🇺🇸🇮🇪90k+ (beware of imposters) (@FilanLaw) April 20, 2022

They say you never really like attorneys until you need one…

And then you like YOUR attorney.

That certainly rings true for me, as I’m grateful for all the work and information Deaton, Hogan, Filan and others are putting out.

Keep up the great works fellas (and any XRP legal ladies out there)!

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.