XRP Lawsuit Postponed – Attorney Jeremy Hogan Weighs In

January 15, 2022 1:08 pm Comments

According to Fox Business, the SEC v. Ripple lawsuit is reportedly getting pushed back by a month due to the increasing number of cases of the Omicron variant.

The request to extend the deadline is expected to be submitted soon as a joint request which will require the Judge to signoff on the request.

Many different parties are awaiting the decision of this lawsuit and the announcement has raised some suspicion as to why Ripple would agree to this extension.

FinanceFeeds reports on attorney Jeremy Hogan’s thoughts and the expected date to hear the outcome:

Throughout the entire SEC v. Ripple lawsuit, Mr. Hogan has been asked multiple times when would the lawsuit end. The concern over the time frame is understandable given that XRP holders have their hard earn cash on the line.

In his first prediction, the lawsuit would end about now: “I don’t see the case being decided at summary judgment until early 2022 – maybe January”, Hogan said in June 2021.

Later that year, he updated his predictions amid two extensions in fact discovery – one requested by the SEC alone and the other filed in a joint motion.

Until now, Jeremy Hogan defended the idea that April could dictate the outcome of the lawsuit and free XRP holders from their frozen assets in US-based trading platforms.

Judge Sarah Netburn, however, has granted a new joint motion to extend expert discovery by a month due to the rapid spread of the COVID-19 variant, Omicron, and other personal matters.

Since Ripple agreed to the extension, the likelihood of the judge rejecting the motion was null. Expert discovery is now scheduled to end on 28 February 2022.

As the community continues to wait for updates regarding the court decision, attorney Hogan continues to provide his insights on the delay.

The XRP community has also speculated on likely possible reasons for why it was extended.

One possible reason mentioned is that there is actually a key person who has covid needed for the deposition and therefore it is necessary to agree to extend.

The other likely reason is that there is some type of settlement or regulation that is coming.

Hogan replied to Twitter that he thinks that either scenario is entirely possible and that his personal opinion is that someone wanted the deposition to be done in-person for some reason.

In regards to the timeline, Hogan also shared that his previous prediction of an Aril 2022 ending was very optimistic and had provided further updates that the decision will likely take some time which takes us to a likely September or August revised ending date.

As it was a joint request to delay the case, both parties technically could have aligned on a shorter time frame and the Judge could have approved it.

Of course, it seems that the SEC would never agree with that and is in favor of delaying the decision as long as possible to turn the tide in their favor against Ripple.

There is still a slight chance that a settlement could be reached if the SEC feels threatened or at risk by Ripple’s arguments in the next few months.

Public reaction on Twitter continues to arise and many within the XRP community continue to await what the decision will be.

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.