“Ripple Labs vs. SEC to End in September/October”, Legal Expert Says
According to Jeremy Hogan, a crypto legal expert who is closely following the Ripple lawsuit with the the U.S. Securities and Exchange Commission (SEC), the defendant is looking to end the legal battle with a win by September or October this year.
Hogan’s suggestion is based on documents revealed to the public this past weekend. He told his Twitter audience:
When will Ripple v. SEC case end?
Ripple thinks it will end sometime between Aug. 26 and Nov. 18.
In its pending class action, Ripple agreed to move the case start back to Nov. 18 in belief that the SEC case will be finished before then.
Of course, it can settle ANYTIME. pic.twitter.com/fVawdduiNs
— Jeremy Hogan (@attorneyjeremy1) March 6, 2022
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Based on the court order, he was provided with, Hogan added the following pointing to collateral estoppel, a legal phenomenon that prevents defendants from trial of the same issue in more than:
“It makes me feel more confident in my September summary judgment prediction. I think Ripple thinks it wins the SEC case in Sept/Oct and then this class action goes away due to ‘collateral estoppel’.”
The SEC started its fight with Ripple in December of 2020 when it charged the firm on the alleged sale of XRP as an unregistered security.
On Monday, Ripple’s CEO Brad Garlinghouse said in an interview with Fox Business, that the U.S. regulator has a tough challenge making its case against him and his firm. He said:
“The irony there is like we were in the SEC’s office. I met with Chairman Clayton. I was meeting with commissioners. No one ever once said, ‘Hey we think XRP is a security.’ They looked backward and say, ‘Now we think it’s all security.’ That’s a hard argument.”
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Source: igaming
