Breaking: XRP Lawsuit Judge Issues Pretrial Scheduling Order, What Next?
XRP News: In a fresh development in the Ripple lawsuit, Judge Analisa Torres on Wednesday said the Southern District Court of New York will seek to schedule a jury trial for the case in the second calendar quarter of 2024. In this regard, Judge Torres has ordered the patties, Ripple and the US Securities and Exchange Commission (SEC) to submit blackout dates for trial by Wednesday, August 23, 2023. The development follows the July 13, 2023 ruling that said the retail sale of XRP tokens do not amount to securities, in a major win for the token holders.
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On Wednesday, Judge Torres issued a pre-trial scheduling order that said the Court wants to schedule a jury trial for the second calendar quarter of 2024. This could be a massive development at a time when the crypto market has been anticipating an appeal request from the US SEC. The pretrial scheduling order could mean that the Summary Judgment will hold to be status quo until the second quarter of 2024 and further till the time the agency does not seek an interlocutory appeal.
What Judge Analisa Torres Said In The Order
The Judge said in the order the Court will seek to schedule a jury trial for the second quarter of 2024 and that both parties should submit blackout dates for trial by August 23, 2023. Further, the two sides should submit all the pretrial files, and are open to submit motions in limine, which refer to motions before the trial begins, by December 4, 2023. After the submissions, the Court said will schedule a final pretrial conference date once the trial date is finalized.
As of writing, Stuart Alderoty, the Chief Legal Officer at Ripple, is yet to comment on the Judge’s order. Meanwhile, it remains to be seen if the XRP price would turn bullish in the lead up to the trial date in 2024.
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