Ripple Vs. SEC Legal Saga: Expert Outlines Timeline For Settlement And Ruling

Ashley Prosper is an XRP enthusiast and deeply invested in the outcome of the legal conflict between the two. Ripple and the U.S. Securities and Exchange Commission (SEC), Share your insights on this topic, give an overview Possible timeline for litigation settlement and final judgment.

Possibility of settlement and final judgment schedule in Ripple case

According to experts, the SEC’s final response in the relief phase of the Ripple case is expected to be announced tomorrow, May 7th. Following that response, U.S. Judge Annalisa Torres will make a final decision on the matter, Ashley said. Prosper believes it will take place between July and August, or perhaps September.

on the other hand, XRP Enthusiasts are confident that an appeal could be filed by both sides after this, and are adamant that it won’t take as long as people expect. Therefore, she urged the community to watch for future rulings from the Court of Appeals now, as a settlement could be reached at any time within this period.

The expert also drew attention to a post by U.S. attorney James K. Filan that highlighted several important dates in the legal dispute between Ripple and regulatory watchdogs. Filan pointed out that there are two important dates in this case. The SEC will file its opening brief on March 22nd, and the SEC will file its response brief on May 6th.

Notably, in its opening brief in March, the SEC claimed that this payment had increased XRP sales since the complaint was filed. According to the commission, a staggering amount of unregistered institutional sales of more than $729 million is the subject of a summary judgment order. However, this amount is an over-redacted amount of the XRP sales Ripple has made since the start of the case, including billions of dollars after the summary judgment, which appear to have been largely bought by institutional investors. It is insignificant compared to.

The SEC also clarified that: ripple They are in a good position to pay large civil fines. As a result, the European Commission asked the court to prohibit the company from offering unregistered XRP to institutional investors.

SEC response brief to be held today

The lawsuit is expected to reach a critical stage today, May 6, when the SEC is scheduled to file a written response to Ripple’s protest against the commission’s proposed large fine. .

The agency is seeking $876.3 million in civil penalties, $876.3 million in additional disgorgement and $198.15 million in prejudgment interest, for a total proposed penalty of $1.95 billion. However, the payment company refuted In the request, the SEC had not proven the need for disgorgement and argued that the civil penalty should be limited to a maximum of $10 million.

Experts say the SEC will likely stick to its disgorgement position, but there is also speculation that the court will rule in the company’s favor this time.

XRP trades at $0.5415 on 1D chart | Source: XRPSDT

Featured image from iStock, chart from

Related Article


Leave a Comment