The legal battle between Ripple Labs and the Securities and Exchange Commission (SEC) has heated up recently as both sides await a decisive court ruling. Ripple CEO Brad Garlinghouse recently took a bold step statementindicating that he expects a court decision “in weeks, not months.”
However, another prominent figure, pro-XRP lawyer Jeremy Hogan, has and expect outcome of the case. Hogan claims that the judge in the Ripple case has been delivering major rulings about every 9 weeks, and the final major ruling on summary judgment is expected in mid-July.
Hogan explained that this is not a prediction but rather a pattern that has emerged in the case, as it indicates that the outcome of the case may be decided in the coming weeks.
Ripple condition near the peak
If Hogan’s analysis is correct, it may provide some insight into the timeline for the final ruling in the case. However, it is important to note that the judge’s decisions will ultimately be based on the merits of the case and not on any predetermined timeline or pattern.
Regardless of the timing of the final ruling, the outcome of the Ripple v. SEC case will be closely watched by the cryptocurrency industry and could have significant implications for the regulatory landscape.
Hinman speech documents could provide evidence against the SEC’s allegations
In the ongoing legal battle between Ripple Labs and the Securities and Exchange Commission (SEC), a recent ruling by Judge Sarah Knitburn granted Ripple access to documents related to a speech given by former SEC official William Hinman.
according For John Deaton, founder of Crypto Law, the SEC initially argued that the letter was not market direction, despite statements from senior SEC officials at the time suggesting otherwise. The SEC then sought to have Hinman sign an affidavit stating that the letter was only his opinion and not a directive to undermine Ripple’s lack of a fair notice defense.
However, Judge Netbourne ruled that the letter was discoverable and was not covered by the deliberative process lien, despite the SEC’s arguments to the contrary. The judge also called the SEC’s lawyers their “hypocrisy” and disloyalty to the law.
The SEC then attempted to argue that attorney-client privilege protected the documents, claiming that Hinman was seeking legal advice from colleagues when he delivered the speech. However, Judge Knitburn again ruled against the SEC, stating that the letter reflected the views of the Corporate Finance Division and that multiple divisions of the SEC provided input on the letter.
Deaton argues that the SEC’s “inconsistent and hypocritical” positions led to the ruling allowing Ripple access to documents from Hinman’s letter. He points out that the documents might not have been discovered if the SEC had been more honest in its arguments.
As the case unfolds, legal experts and crypto enthusiasts will likely look closely at Hinman’s letter documents. The decision to grant access to these documents could be a turning point in the case and could provide Ripple with the evidence it needs to mount a successful defense against the SEC’s allegations.
Featured image from Unsplash, chart from TradingView.com
