Attorney James K. Filan Shares Updated Timeline for the Conclusion of Ripple-SEC Lawsuit

[solodeji]

The legal tussle between Ripple, the San Francisco-based cross-border payment firm and the United States Securities and Exchange Commission (SEC) over alleged sales of XRP as an unregistered security, started on the 20th of December 2020 and will clock two years in the next few months.

Despite the anticipation of the XRP community members to see the end of the lawsuit as soon as possible, they will have to wait until next year, considering the recent timeline shared by the attorney James K. Filan, a defense lawyer and former U.S. prosecutor.

According to James K. Filan’s suggestion in the recent update posted on Twitter, the lawsuit between Ripple Inc. and the United States SEC is likely to end on or before the 31st of March 2023.

Captioning the screenshot of the update, James K. Filan tweeted, “SEC v. Ripple XRP Updated schedule and status as of May 26, 2022.”

In the updated schedule shared above by the legal expert, James K. Filan, it’s said that there are a number of outstanding issues which could delay the lawsuit until March next year.

These issues include:

the decision by Magistrate Judge Netburn on the SEC’s claim that all of the Hinman documents are protected by the attorney-client privilege and, connected to that.

the objection to Magistrate Judge Netburn’s DPP ruling.

the Ripple Defendants’ Motion to Compel the SEC to answer or amend their answers to certain Requests for Admission.

the Motion for Attorney’s Fees connected to the Metz supplemental Report.

the motion by Amici to participate in the Motion to exclude Expert Testimony (“Daubert” challenges).

the Motions to Exclude Expert Testimony.

the Motions to Exclude for Summary Judgment.

Read Also: Brad Garlinghouse: The Victory for Ripple and XRP Is a Victory for the Entire Crypto Industry

Based on the issues listed above and expatiated in the update, James K. Filan concluded that the Expert Motions and Summary Judgment motions may have to wait until March 31, 2023.

James K. Filan noted:

“We are continuing to make progress and we will have more information over the coming months. We will see various issues decided at various times in the next few months, but my prediction remains that Judge Torres will decide both the Expert Motions and the summary Judgment motions at the same time – on or before March 31, 2023.”

https://timestabloid.com/attorney-james-k-filan-shares-updated-timeline-for-the-conclusion-of-ripple-sec-lawsuit/

 

[QuestionMark]

So March 2023 IF there are no more delays, which is an absurdly optimistic take given the way things have been going so far.

 

[Caracappa]

12 minutes ago, QuestionMark said:

So March 2023 IF there are no more delays, which is an absurdly optimistic take given the way things have been going so far.

 

Yup, and also any day now so that makes it a hard bet. When forced to release documents and emails it can settle. When forced to answer the requests for admission it can settle. When pressure towards the sec rises from congress like it is doing, it can settle. If expert witnesses are crossed out of the game it can settle. If finally any proposed bills pass it could settle or end.

Or it takes another two years because... 

[QuestionMark]

37 minutes ago, Caracappa said:

Yup, and also any day now so that makes it a hard bet. When forced to release documents and emails it can settle. When forced to answer the requests for admission it can settle. When pressure towards the sec rises from congress like it is doing, it can settle. If expert witnesses are crossed out of the game it can settle. If finally any proposed bills pass it could settle or end.

Or it takes another two years because... 

I'm not holding my breath for anything. If my years being involved with XRP have thought me anything, it is not to expect anything besides delays, dumps and disappointments.

[Caracappa]

2 hours ago, QuestionMark said:

I'm not holding my breath for anything. If my years being involved with XRP have thought me anything, it is not to expect anything besides delays, dumps and disappointments.

If you have no confidence in the bets you place, then move on to something else. I for one am pretty impressed XRP is still in the top10 despite a lawsuit and not very surprised it did not surpass ATH under those circumstances. This is currently one of the most interesting bets to place, for me personally that is. For others it is a roller-coaster of disappointment. Probably depends on when someone entered the market (bull time) and what expectations were. 

Everyone is free to place their bets on different assets. The entire market is, after a full decade, still a random casino full of ponzis, empty promises on white papers and well marketed hype. Some have a future, just not yet. 

[QuestionMark]

13 hours ago, Caracappa said:

If you have no confidence in the bets you place, then move on to something else. I for one am pretty impressed XRP is still in the top10 despite a lawsuit and not very surprised it did not surpass ATH under those circumstances. This is currently one of the most interesting bets to place, for me personally that is. For others it is a roller-coaster of disappointment. Probably depends on when someone entered the market (bull time) and what expectations were. 

Everyone is free to place their bets on different assets. The entire market is, after a full decade, still a random casino full of ponzis, empty promises on white papers and well marketed hype. Some have a future, just not yet. 

You are right, of course. I am on a bit of an auto pilot, after all these years I somehow can't bring myself to let go of the hold mentality, especially as the recent price action is way worse than anything I could have imagined it to be 5 years in. Oh well, it may get better it may get worse still, but as I said I am not holding my breath for anything miraculous or sudden to happen. Also this court case can still take years and get resolved without providing any special regulatory clarity to XRP, which will still leave it as just another crypto coin to be pushed around by the market forces at large.

The only positive I can see is that any up and coming US based company that's not getting in a tussle with the SEC upon reaching a certain size must be doing something wrong. Or it has to be juiced in. Cough, Ether, cough....

[Caracappa]

5 hours ago, QuestionMark said:

You are right, of course. I am on a bit of an auto pilot, after all these years I somehow can't bring myself to let go of the hold mentality, especially as the recent price action is way worse than anything I could have imagined it to be 5 years in. Oh well, it may get better it may get worse still, but as I said I am not holding my breath for anything miraculous or sudden to happen. Also this court case can still take years and get resolved without providing any special regulatory clarity to XRP, which will still leave it as just another crypto coin to be pushed around by the market forces at large.

The only positive I can see is that any up and coming US based company that's not getting in a tussle with the SEC upon reaching a certain size must be doing something wrong. Or it has to be juiced in. Cough, Ether, cough....

I think not holding your breath is the most healthy take on the market and on XRP in particular. As said, it could be over tomorrow, it could take a year+. 

We have zero influence on that. All we can do is place bets accordingly to our personal anticipation on what will and will not give a good return long term.

Trading the waves is an option, I do that with my 'playstash'. By doing that the downfall gets 'fun' and interesting to because it could mean a win. 

Majority however is in cold storage, waiting for the bet to be over. 

[Julian_Williams]

17 hours ago, QuestionMark said:

You are right, of course. I am on a bit of an auto pilot, after all these years I somehow can't bring myself to let go of the hold mentality, especially as the recent price action is way worse than anything I could have imagined it to be 5 years in. Oh well, it may get better it may get worse still, but as I said I am not holding my breath for anything miraculous or sudden to happen. Also this court case can still take years and get resolved without providing any special regulatory clarity to XRP, which will still leave it as just another crypto coin to be pushed around by the market forces at large.

The only positive I can see is that any up and coming US based company that's not getting in a tussle with the SEC upon reaching a certain size must be doing something wrong. Or it has to be juiced in. Cough, Ether, cough....

Like you I am 5 years in.  I agree this could drag on and on...and price will be very unpredictable and disappointing until we get clarity.

That said Ripple/XRP/XRPL/ODL/Ripplenet combined with the proof of concept/testing/high level connections/team and offices/patents make it inevitable that at some point our investments will be fully justified.  Remember XRP is getting clarity and being rolled out to schedule in the rest of the world ex US.

Edited May 29, 2022 by Julian_Williams