Legal
John Deaton, the well acclaimed Attorney in the XRP community known for representing the token holders in the ongoing lawsuit between Ripple Labs and the US SEC has shared his latest opinion about whether or not the latest delay in the public filing of the Hinman Documents as ordered by the court is for settlement purposes.
Taking to his favorite social media platform -Twitter – Deaton said if the controversial Hinman documents will be the basis for any form of settlement, it would have happened long before the SEC turned over the documents to the blockchain payments company.
The legal luminary said he believes the market regulator has already decided within its ranks that the Hinman emails and associated documents are bound to be made public eventually. As a major force in the Ripple community with closer involvement to the case, John Deaton has assumed the role of educator as well as a pacifier as everyone within the community seeks an end to the legal battle.
As reported earlier, both Ripple and the SEC sent a joint request to the court requesting for an extension to the moratorium to turn over the Hinman documents to the public. The reason the duo cited was because the documents in question are very voluminous and will take time to sort out.
When is Summary Judgement to Decide XRP Status
The SEC filed its lawsuit against the blockchain payments firm back in December 2020 and a lot has happened with respect to the case from that time until now. With the progression, many community members are now anticipating the Summary Judgement from the presiding Judge, Analisa Torres.
While the speculations as to when this summary judgment will be passed, experts have pegged the timeline to anytime between 6 weeks and 6 months from now.
The expectation is that Ripple is going to come out largely triumphant and the outcome of the lawsuit is bound to set a precedent for the digital currency ecosystem moving forward. By the time the case will be over, Ripple CEO confirmed that the firm would have spent $200 million to defend itself against the SEC.
