Pro-XRP Lawyer John Deaton Highlights Judge’s Awareness of Ripple vs. SEC Lawsuit’s Profound Significance.
According to the renowned lawyer representing XRP holders, John Deaton, U.S. District Judge Analisa Torres fully grasps the crucial implications surrounding the outcome of the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple.
Sharing his insights with his substantial Twitter following of 279,200, Deaton addresses the extended duration taken by Judge Torres to reach a verdict in the case, assuring that this delay is not unprecedented.
“The Ripple and SEC Reply Briefs were filed in December, making Judge Torres’ decision pending for seven months now. However, Ripple is not alone in waiting. In the Thor Equities case, also under Judge Torres’ jurisdiction, the Reply Briefs were also submitted in December, and her ruling is yet to be delivered.”
Deaton further points out similar instances in other lawsuits, including the N.Y. District Carpenter’s fund case, where Judge Torres’ summary judgment took over eight months from the filing of Reply Briefs. Additionally, the Quiller Inc. vs U.S.A. case required seven months for her decision, while the Fitzgerald case, among others, took six months for her ruling.
In essence, while there were expectations, shared by myself and others, of an earlier verdict, it is essential to acknowledge that other cases have experienced similar timeframes. It is highly likely that Judge Torres comprehends the weight of her decision.”
Supporting Deaton’s perspective, Ripple’s chief technology officer, David Schwartz, concurs that it would not be unusual if Judge Torres’ ruling on the summary judgment motions is not issued until the end of September.
The SEC initiated the lawsuit against Ripple in late 2020, alleging that the San Francisco-based payments company unlawfully sold XRP as an unregistered security.
Back in May, Ripple’s CEO, Brad Garlinghouse, optimistically predicted that a decision would be reached within “weeks, not months.”
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.