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After Judge Analisa Torres amended the joint schedule order letter written by Ripple and the Securities and Exchange Commission (SEC), the trial schedule underwent a major change.
While XRP holders are not losing hope that the case will be closed this year, recent events could lead to an extension of the trial until next year.
Attorney James K. Feelan, who is well versed in the matter, tweeted an updated schedule for the trial, which shows that the trial between Ripple and the SEC could be completed on or before May 23, 2023.
#XRPCommunity #SECGov v. #Ripple #XRP Updated schedule and status as of May 26, 2022. pic.twitter.com/jkRopw0nFG
— James K. Filan 🇺🇸🇮🇪96k+ (beware of imposters) (@FilanLaw) May 26, 2022
Ripple vs SEC: Updated Schedule
On the issue of deliberative privilege (DPP) and the SEC’s claim of attorney-client privilege in connection with William Hinman’s 2018 speech, in which Ethereum (ETH) was declared an unsecured paper, Attorney Filan said the issue could drag on until June or July this year.
Recall that after the SEC was ordered to hand over Hinman’s documents to Ripple, the agency made another attempt to hide the document from Ripple on the grounds that it was protected by attorney-client privilege.
However, Ripple objected to this claim, prompting the SEC to uphold its argument with another motion. Attorney Filan noted that if the SEC is forced to provide the document in the future, the agency will still file another objection, but this time under the leadership of Judge Sarah Netburn, as part of an effort to ensure that Hinman’s documents do not fall into the hands of Ripple.
Depending on when Judge Torres decides on Hinman’s documents, the Securities and Exchange Commission will have 14 days to appeal the decision to Judge Netburn.
If the SEC objects, Attorney Filan said the defendants would also respond to the objections, and Ripple’s response must be submitted within 14 days or earlier.
There is also the possibility that either party may request an extension of the deadline for filing its response, as happened recently.
Notably, if the SEC is ordered to hand over the documents to Ripple, an agency that appears willing to protect documents at all costs could be forced to file an interim DPP petition with a higher authority.
While Attorney Filan believes the SEC’s attempt to get permission to file an interlocutory appeal will succeed, he added that it will take some time before a decision is made, which will further delay the trial.
While the parties may still be in Hinman’s documents, Attorney Filan noted that Ripple’s motion to get the SEC to answer certain questions, filed may be pending on May 18.
The SEC’s motion to object to Ripple’s request must be filed by June 2, 2022, and Ripple’s response to the objection will be submitted no later than June 13, 2022.
In addition, on the issue of the “friends of the court’s” motion to participate in an expert lawsuit recently filed by attorney John Deaton, the U.S. Securities and Exchange Commission has already been granted an extension of the time to object to the motion, which means that its objection must be filed on June 7, 2022, while any response to this question must be filed on June 10, 2022.
Attorney Filan added that all motions to exclude expert testimony are expected to be filed by July 12, 2022, with objections and responses scheduled for Aug. 9, 2022 and Aug. 30, 2022, respectively.
At the same time, motions for a decision in summary proceedings on indisputable facts must be filed by September 13, 2022, and objections and responses to these motions by October 18, 2022 and November 15, 2022, respectively.
A final decision could be made before next year.
After all this, the briefing will be completed, and the cryptocurrency community, especially Ripple, will wait for the final decision on the lawsuit from Judge Torres.
While many believe the lawsuit could end this year, given the SEC’s delaying tactics, there may be some developments that could move the case further next year.
Based on these developments, Counsel Filan concluded that he believed That Judge Torres would rule on the motions of the experts and the intercessor.you on the final decision no later than March 31, 2023.
#updated #court #schedule #status #issues #submitted