XRP Lawsuit: Judge Torres Speeds Up Ripple vs. SEC Calendar

April 30, 2022 2:23 pm Comments

Recent updates from the lawsuit reveal that Judge Torres has made changes to the proposed SEC vs. Ripple calendar which was originally scheduled to conclude at the very end of the year.

The amendments made by Torres show that the extension request dates have been modified and essentially brings forward the proposed end date by more than a month.

The news is positive for Ripple who has been aiming to reach a conclusion for the lawsuit as fast as possible due to the SEC constantly using delay tactics.

With that being said, speculators are wondering if the SEC will submit another extension request to challenge Judge Torres’s decision.

The court document has revealed the all the changes that Torres has made.

FXEmpire reports:

Overnight, defense attorney James Filan shared a new proposed calendar. Judge Torres modified the SEC and Ripple Lab’s extension request dates.

According to the court document filed on April 28,

By July 12, 2022, the parties shall file any motions to exclude expert testimony and file all their oppositions by August 9, 2022.

The parties shall file replies, if any, by August 30, 2022.

By September 13, 2022, the parties shall file any motions for summary judgment and Rule 56.1 statements.

The parties shall file their oppositions and responses by October 18, 2022.

By November 15, 2022, the parties shall file replies, if any.

On Twitter, defense attorney James Filan shared the exact court documents that indicate this recent amendment by the court that clearly shows this new proposed calendar.

The attorney then also shared his thoughts on the proposal and said that it actually matched his prediction that he talked about a few weeks prior.

Filan mentioned that he believed before that the briefing would start in July and most likely end in November which is where Judge Torres ended up.

He also mentioned something called the “6 month rule” which is that most Judges aim to decide motions 6 months after they are filed.

So far, Judge Torres has never breached this 6 month rule so far as it tends to lead to public shaming despite there being no real consequence.

Filan shares his statements on Twitter:

The opening expert motion briefs will be filed on July 12, 2022, so we can expect decisions on those on or before the “6 month list” is published on March 31, 2023.

The Summary Judgment motions will be filed on September 13, 2022, so those slide past the March 31, 2023

That is what she did in the Goldman Sachs case I discussed last week. This is guess work, but predictions that the case will be decided before the end of the year are, respectfully, in my opinion, off the mark. I just don’t see the Judge deciding all these motions in 45 days.

after the last briefs are filed on November 15, 2022, especially with the holidays sandwiched in between. While everyone wants things to move faster, it’s better for the court to get it right than get it done fast, and the right outcome is worth waiting a few more months for.

Ripple’s lawyers have consistently shown that they know what they are doing, so I would sit back, be patient, and watch them work their craft now.

It seems like Filan is pretty confident about the process and Ripple’s legal team so the best thing to do now is to exercise patience.

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