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The Controversial U.S. Securities and Exchange Commission (SEC) vs Ripple lawsuit may be over soon than expected. Judge Analisa Torres reviewed the Summary judgment letter filed by both parties on April 22, 2022.
The judge has chosen to modify the motion to shorten the timeline of the procedure. This move has come amid the delay tactics applied by the SEC in the case.
Court counters SEC’s delay tactics, Ripple wants early judgement
As per Judge Torres’s order, all the parties now need to file any motion, if they need, to exclude expert testimony by July 12, 2022. The commission and Ripple with other defendants have to file their opposition by August 9, 2022, and complete the replies procedure by August 30, 2022.
Earlier, the submitted schedule proposed filing of the motion to exclude the statement by August 2, 2022. Submission of any other opposition was scheduled for December 30, 2022. Surely, Judge Torres cutting down the time to produce a sensible outcome here.
The order further mentions that the motion to exclude expert testimony and response should be in 15 pages only.
Ripple has repeatedly sought a quick end to the case, which is now in its second year running.
Judge shortens summary judgment by 5 weeks
The order also revised the timeline to submit the motions for the summary judgment. September 13, 2022, will be the deadline to file any reply over the proposed timeline statements. While the SEC and Ripple can submit their opposition by October 18, 2022. Meanwhile, the order asserts to end the motion filling by November 15, 2022.
Attorney James K Filan has mentioned that with the efforts of Judge Torres now the whole timeline has been shortened by almost 5 weeks. It also signals that the verdict of the crucial lawsuit can come by the end of this year only.
The Judge has mandated that if defendants want to file separate motions then it should be limited to 30 pages. However, the joint motion can be up to 75 pages. On the other hand, the SEC’s opposition cannot be more than 75 pages while its reply should not exceed 45 pages.
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