A decision has yet to be rendered in the Ripple v. SEC case, which has put many on edge. CEO Brad Garlinghouse is sure that a favorable ruling will be issued in the first half of 2023, but many people still don’t believe him.
But, Attorney John Deaton, the creator and presenter of CryptoLaw and a well-known Ripple supporter, is confident that Ripple will prevail in its Supreme Court lawsuit against the SEC.
Stuart Alderoty, Ripple’s chief legal officer, recently tweeted that the SEC has not had as much success with prosecutions in the past. At oral arguments, Stuart Alderoty pointed out that the SEC had been unsuccessful in four of five cases brought before the Supreme Court.
He attributed the result to the few with the fortitude to confront the SEC with their resources. He stated that the SEC also lost these lawsuits due to the small number of litigants ready to press unfavorable legal arguments at the time.
In response, attorney John Deaton expressed confidence in Ripple’s capacity to follow in the footsteps of the select few who have prevailed against the SEC in the Supreme Court. He said the action was an overreach by the SEC and mentioned the West Virginia EPA case as an example. However, he thinks Ripple is in a strong position because of its summary judgment brief.
“I do not doubt that Ripple will prevail and that the current Supreme Court will halt the @SECGov’s egregious overreach. The summary judgment brief filed by Ripple is an “extremely well-written appeal brief.” Lawyer Deaton posted the following on Twitter.
In addition, the council recognized several Judges whose earlier court decisions favored Ripple’s argument against the SEC.
“We are fortunate to have Judge Netburn and Judge Torres, and if Judge Torres dismisses the SEC’s request and sends the case to a jury, as I anticipate, that will be a victory. My motion is confused with Ripple’s. I filed with the SEC in opposition, not in favor of Ripple.” Deaton tweeted yet again.
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.