XRP Lawsuit: Summary Judgment Ruling To Be Out By This Date

The long running XRP lawsuit is right now in the Summary Judgment phase. However, the ruling might be affected as the US SEC was granted additional time to file a reply to the Amicus Briefs. This move has landed after the SEC gave up its allegations over the Hinman speech.

Ruling in the XRP lawsuit will be delayed?

Attorney James Filan has shared the updated schedule for the summary judgment ruling in the XRP lawsuit. He mentioned that reply briefs are now due by November 30, 2022. While the deadline for submitting Amicus Briefs is set be November 11, 2022.

He highlighted that till now parties have filed their motions for Summary judgment. The opposition briefs to each other’s motion for summary judgment have also been submitted. However, SEC’s and the defendant’s reply to the opposition is yet to be filed.

Filan suggests that the XRP lawsuit might see more Amicus Curiae requests. While motions to exclude expert testimony are still pending. Both parties will file a summary judgment reply briefs under seal at first. The page limit for these replies is set to 55 pages.

Final ruling when?

However, he predicts that District Judge Torres will decide both the Expert Motions and the Summary Judgment motion at the same time. That time period is suggested to be on or before March 31, 2023.

Earlier, Coingape reported that the SEC asked for extra time to file replies. While the Ripple Counsel slammed the commission over this move. He mentioned that there is a huge number of independent voices have filed for amicus in the XRP lawsuit. While the SEC is trying to dodge it.

The attorney informed that the motions to exclude expert testimony are fully briefed. However, issues related to sealing motions expert reports and deposition transcripts remain. It is expected that the sealing issues will be resolved with the summary judgment process.