The judge presiding over the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple has made an unexpected schedule change.
James K. Filan, a lawyer closely following the lawsuit, says that Judge Torres has altered the case’s calendar, which previously was slated to head into 2023.
“Judge Torres modifies [the] proposed calendar. Motions to exclude expert testimony must be fully briefed by August 30, 2022. Motions for summary judgment must be fully briefed by November 15, 2022.”
According to attorney and crypto expert Jeremy Hogan, the change of schedule signals that Judge Torres would like to see the lawsuit wrap up before Christmas.
“Oh, that’s a pleasant surprise. Judge Torres has, sua sponte (fancy Latin for ‘because she wants to and can’), moved up the schedule for summary judgment briefs to November 15.
What do I take from that? She wants the Ripple vs. SEC case over before Christmas.”
Last week, Filan broke the news that Ripple and the SEC came to an agreement to push back opening briefs for summary judgment and expert challenges to August and closing briefs to a few days before Christmas.
Hogan commented at the time that the agreement was the “worst-case scenario” for the lawsuit and that he’s never seen a plaintiff in a case push back the justice they seek.
However, Filan said that Ripple agreeing to the delay may have benefited the company by allowing them to finally lock in a date and avoid any further pushbacks.
“Many people are questioning why Ripple agreed to this schedule. My gut feeling is that there was a trade-off… If Ripple didn’t agree, there would be more scheduling disputes that in my estimation would have taken up even more time and Ripple would have lost that battle if the past is any guide.
Then the motion schedule would have gone well into 2023. In my opinion, this was a very smart move by Ripple in locking in this schedule.”
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