Ripple has had a string of successive wins in the SEC lawsuit over the last year, including a judgment stating that XRP is not a security as a matter of law and a decision refusing the SEC’s request for an interlocutory appeal.
The SEC also dismissed all remaining charges against Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen.
Entering 2024, everything seems quiet around the lawsuit, with fewer discussions on social media.
A legal expert and participant in the Ripple lawsuit, Fred Rispoli, draws the attention of the XRP community to the unusual calm in the lawsuit.
#XRP #XRPCommunity#SECvsRipple has been quiet…too quiet? Completion of damages-related discovery is Feb. 12. I’m surprised we haven’t seen any SEC discovery motions filed given how hostile this litigation has been. I would expect to see one filed at least a week or so…1/3
— Fred Rispoli (@freddyriz) January 8, 2024
Jeremy Hogan, an attorney and XRP enthusiast, believes the same, expressing concern about the unusual quietness.
Rispoli feels that the unusual calm in the lawsuit might suggest that the SEC is moving on to other endeavors or shakedowns.
Key date nears
The Ripple lawsuit has now reached the remedies stage, in which the court will decide which, if any, remedies to impose in light of the decision that certain institutional sales constituted sales of securities.
In light of this, the next key date in the lawsuit is Feb. 12, 2024, which will mark the completion of remedies-related discovery.
Rispoli expressed surprise about the SEC’s discovery motions, which have yet to be filed, given the significance of the legal tussle. He anticipates seeing at least one motion filed a week or so before the deadline.
The legal expert predicts one of two scenarios: first, the SEC gets the discovery it wants, reviews it and the parties finally settle. But, second, if this fails to happen, Rispoli hints at a scenario whereby discovery drags on through the remedies briefing, which concludes on April 29 with a ruling likely in the early summer.
Regardless of all this, Ripple predicts that in 2024, the last bit of the SEC’s misguided lawsuit will finally come to an end.
