XRP Lawsuit Enters New Phase As Court Approves Scheduling Proposal

September 13, 2022 10:12 pm

The longstanding lawsuit between Ripple and the SEC has finally started to move towards a new phase which is known as the summary judgement.

There are certain key dates to keep in mind when it comes to the summary judgement schedule.

Opening motions are due today on September 13 and oppositions to the motions are then due on October 18.

Finally, the replies to these motions are then due November 15 and this schedule will pretty much summarize how the rest of the lawsuit will go for the remainder of the year.

This proposal has already been approved by the District Judge Torres so all there is left to do is wait what comes out of each of these key dates.

U.today reports:

In a fresh update shared by James K. Filan, “District Judge Torres has approved the parties’ joint scheduling proposal to governing sealing issues relating to the upcoming summary judgment motions.”

The proposal hopes to enable prompt and public access to the parties’ briefs.

In reaction to the approval, Eleanor Terrett, a Fox Business correspondent, tweeted enthusiastically, “And we’re chugging along to summary judgment Ripple.”

Attorney Jeremy Hogan said, “I’m just happy to be able to see a real-life summary judgment motion in…7 days.”

While the summary judgment motions are anticipated to commence in earnest today, the proposal also touches on important dates to note until the end of 2022.

To go into more detail as for what will happen in the month of September, essentially both parties are expected to file all their materials that are related to the summary judgement on this day.

Public redacted versions of the summary judgements will also be published on September 19 which will mean that both parties will show the cards that they are holding.

Jeremy Hogan shared his thoughts about this and commented that it was exciting because it indicates that the lawsuit is finally reaching its final stage before conclusion.

Based on this scheduling proposal, it could be quite likely that the case could reach a settlement sometime early next year if things go as planned.

U.today concludes:

October

On Oct. 18, the parties will file all materials relating to oppositions to summary judgment motions temporarily under seal, including briefs and exhibits. On Oct. 20, the parties meet and confer to identify redactions sought by each side in the opposition briefs.

November

Then comes Nov. 15, when the parties file summary judgment reply briefs temporarily under seal. On Nov. 17, the parties meet and confer to identify redactions sought by each side in the reply briefs. Then, on Nov. 21, the parties will file a publicly redacted version of the reply brief, making only those provisional redactions requested by the parties during the meet and confer.

December

Dec. 9 sees parties filing omnibus motions to seal all materials relating to summary judgment motions, including briefs and exhibits. The parties will also file proposed redactions with such materials. On Dec. 22, the parties are expected to file oppositions to omnibus motions to seal.

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