Insight from Pro-XRP Lawyer: Ripple Lawsuit Judge Fully Grasps Significance of SEC Ruling
Pro-XRP lawyer John Deaton affirms that U.S. District Judge Analisa Torres is well aware of the profound importance surrounding the outcome of the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple.
Addressing his 279,200 Twitter followers, Deaton explains that the length of time Judge Torres is taking to deliver a ruling is not uncommon. He points out that similar cases before Judge Torres have also experienced substantial delays. For instance, in the Thor Equities case and the N.Y. District Carpenter’s fund case, both involving Judge Torres, rulings took several months to be issued. Deaton emphasizes that while many anticipated a faster decision, it is evident that Judge Torres comprehends the gravity of her judgment. Ripple’s chief technology officer, David Schwartz, echoes this sentiment, suggesting that Torres’ ruling on the summary judgment motions may not arrive until the end of September.
The SEC filed a lawsuit against Ripple in late 2020, alleging the company’s sale of XRP as an unregistered security. Ripple’s CEO, Brad Garlinghouse, had previously anticipated a decision within weeks rather than months back in May.
Clever Robot News Desk 13th July 2023
