Legal
Ripple chief executive officer Brad Garlinghouse believes a ruling in its costly lawsuit with the U.S. Securities and Exchange Commission (SEC) is coming soon. Garlinghouse expects a verdict in weeks and not months after the recent court news concerning the Hinman documents.
XRP Suit Could Be Over Sooner Than You Think
Bradley Garlinghouse has hinted that a court case resolution is coming immediately after the release of the infamous William Hinman materials.
In a recent interview at Redefine Tomorrow 2023 summit, Garlinghouse revealed that in terms of where things currently stand in the courtroom war with the SEC, he is confident of getting a decision in the coming weeks.
The Ripple CEO pointed to the recent court ruling where the SEC’s motion to keep Hinman documents under wraps was rejected by a federal judge.
Back in 2021, Ripple cited the landmark Hinman speech as an indication that the SEC does not deem Bitcoin or Ethereum as a security, contending that XRP should not be classified as a security either. The crypto payments firm then filed for Freedom of Information Act request which would uncover docs explaining how Hinman came to this conclusion.
At the time, the SEC responded by claiming Hinman’s speech represented his personal opinions and not the agency’s policy. To that end, the SEC wanted to shield the documents relating to this speech from the public eye while also arguing that the materials are protected by a statute that grants privacy for internal deliberations.
But as ZyCrypto reported recently, the court believes that these speech drafts and emails are judicial documents and should be made public. The move was viewed as a key win for Ripple, which believes that these internal deliberations and discussions are key evidence in its ongoing litigation.
Hinman Emails To Give Ripple The Upper Hand?
Commenting on the upcoming unmasking of the Hinman materials, pro-Ripple attorney John E Deaton noted:
“I can’t wait for these emails to be released. I predict even non-XRP holders, including Ripple critics, will have to objectively say that what the SEC did is flat-out wrong. The inquiry about the motive behind this lawsuit will go into a higher gear — mark my words.”
Spectators are now waiting for the summary judgment decision after completing all the briefings. Garlinghouse’s comment that he expects a verdict in weeks’ time is being interpreted by some in the XRP community as an indication that he anticipates a favourable decision by the presiding judge.
