Ripple v. SEC Case: When to Expect the Ruling?
John E. Deaton, the attorney representing a multitude of XRP holders, alongside David Schwartz, Ripple’s Chief Technology Officer, have provided their perspectives on the possible timeline of the much-anticipated Ripple-SEC ruling.
Deaton emphasized that the duration Judge Analisa Torres is taking to pass a ruling is not out of the ordinary. He highlights that it’s been seven months since the case began, but Ripple isn’t alone in its patience.
Historical Cases Under Judge Torres: A Pattern?
Drawing upon previous cases under Judge Torres, Deaton mentioned a few notable ones:
- The Thor Equities case, where the reply briefs were filed in December, is still awaiting a ruling.
- The N.Y. District Carpenter’s fund case saw Judge Torres’s summary judgment take over eight months from the submission of the reply briefs.
- Quiller Inc. VS U.S.A and the Fitzgerald case each waited for six to seven months for Judge Torres’ decision.
Therefore, while Deaton admitted his expectation of an earlier ruling, he recognized the equal duration seen in other cases. Moreover, he noted that the judge is likely conscious of her ruling’s significant impact.
September: The Month of Anticipation?
Ripple’s CTO, David Schwartz, joined the conversation on Deaton’s Twitter thread. Schwartz empathized with the frustration stemming from the delay but advised patience until at least the end of September.
“On September 30th [corrected by editorial], Judge Torres would be placed on the 6-month naughty judge list for the first time, and her decision would be pending over 9 months. I didn’t review every case she has had but I didn’t find any that were longer than 9 months (although one was slightly longer than 8 months).“
The Ripple-SEC ruling, therefore, might see the light of day in September, according to these expert predictions. The cryptocurrency community, especially XRP holders, eagerly awaits this landmark decision.