Ripple SEC Case Timeline Predicted By Attorney
A prominent attorney has predicted a timeline for the expected outcome of the Securities and Exchange Commission lawsuit against Ripple Labs, Inc. (Ripple). The preliminarу judgement is expected to arrive this summer.
Attorney Jeremy Hogan said that he expects a summary judgement to be filed by the SEC on or before June 10th this year. He also said that, depending on the court’s response time, the decision could arrive even sooner.
He added that if a summary judgement is issued, Ripple will then have 60 days to file a response in opposition. However, he noted that this may be extended if Ripple isn’t able to find enough evidence in the short amount of time.
Hogan also suggested that if no summary judgement is issued by June 10th, then it could potentially be delayed until Fall 2021 due to other cases taking precedence over Ripple’s suit.
"The longer it takes for a summary judgement to be issued, the better it is for Ripple," Hogan said in an interview. "It gives them more time to build their case and find evidence that supports their defense."
The SEC lawsuit against Ripple dates back to December 2020 when the regulator alleged that XRP was an unregistered security and accused company executives of conducting an “unregistered, ongoing digital asset securities offering” since 2013.