Legal Landscape Unveiled: Judge Analisa Torres' Order Shapes XRP Lawsuit Briefing Process

Judge Analisa Torres has established remedies discovery and briefing schedules in the legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple Labs over XRP. This development follows the mutual agreement between Ripple and the SEC last week to advance proceedings related to institutional sales and other outstanding claims.

In a recent court document from Nov 13, Judge Analisa Torres outlined a timeline for discovery and briefing related to remedies. She had thoroughly reviewed a letter from Ripple and the U.S. Securities and Exchange Commission, dated Nov 9. The judge formally approved the timing for the discovery and briefing on institutional sales and other ongoing issues.

Everyone needs to finish up their discovery tasks related to remedies before the Feb 12, 2024. The SEC, the plaintiff, must get their argument for Section 5 breaches ready regarding their big sales of XRP and more. This needs to be done by Mar 13. One month later, on April 12, the defendant Ripple has to have their counter-argument prepared. The plaintiff will have until April 29, a week’s worth of time, to get their response to Ripple in.

XRP Lawsuit Drama: Keynote Address & Anticipation For Remedies At 2024 Conference

Pro-XRP attorney Bill Morgan mentioned that the SEC’s brief on remedies is arriving merely 9 days before the Wave of Innovation 2024 XRP Gold Coast Conference. Lawyer John Deaton, the representative for seventy-five thousand XRP holders, will deliver the keynote address at the gathering.

Moreover, Information about the XRP lawsuit, particularly the discovery of remedies, is anticipated to be a hot topic. However, this could change if they agree on a resolution beforehand.

Attorney Jeremy Hogan believes a final decision could arrive in July, given the last reports in April. He also pointed out that Ripple is the only one pursued after the SEC discontinued accusations against Ripple leaders Brad Garlinghouse and Chris Larsen.

Closing arguments in April indicate a Final Decision in July. What’s noteworthy is the court case’s title – Ripple is the sole accused party. The defense has scaled the case to just a fifth of its original size. How much of it will remain come July? This is why top-notch attorneys are necessary.

The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.