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The Ripple community celebrated the latest ruling from Judge Torres in which she denied the motion filed by the United States Securities and Exchange Commission (SEC) to have the Hinman documents that were crucial to the lawsuit sealed from the public. Per the ruling, every interested follower of the case will eventually get to see the content of the documents and why they have been deemed so relevant.
With the excitement still in the air, prominent Defense lawyer and Former Federal Prosecutor James K. Filan has shared insights into the timeline in which the document can be unsealed by the regulator as ordered. According to him, the provisions of the law demands that the documents be unsealed in the next 21 days.
Going by the date the ruling was passed, this timeline is supposed to correspond to the 6th of June from yesterday’s ruling.
#XRPCommunity #SECGov v. #Ripple #XRP Update on timing regarding when we should see the documents ordered unsealed. According to the Court’s 9/12/2022 Order, the parties have 21 days to file public, redacted versions of Summary Judgment documents consistent with the sealing… pic.twitter.com/doV5fUxDG5
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) May 17, 2023
While the anticipation remains high to obtain the documents under dispute, Coingape reported earlier that the markets regulator still holds the option to appeal the case. Should an appeal be filed depending on how far the commission is willing to drag the case, the chances that the content of the document will be unveiled anytime soon remains quite low.
Ripple Hoping on Positive Verdict Against SEC
In reality, the celebration of the recent win over the SEC has sent positive shivers into the broader ecosystem. For months now, discoveries made in the legal brawl between Ripple and the SEC have pushed many legal pundits to project a win for the blockchain payments firm.
While the Hinman document ruling may not necessarily impact the much anticipated summary judgment, the omen appear to be positive at this time. The timeline for the issuance of the summary judgment remains another projection that no one seems to have gotten right thus far.
With the anticipation growing, there have been rumors that the parties may eventually push for a settlement. While this proposition appears attractive, Ripple comes off as though it needed a win in a bid to set a more defined precedent that will benefit old, new and upcoming firms in the digital currency ecosystem
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