Former U.S. Prosecutor Shares Scheduling Updates for Ripple vs. SEC Lawsuit, Says Lawsuit To End Before March 31, 2023
Lele Jima - The Crypto Basic
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Attorney James Filan has shared a scheduling update for the Ripple vs. SEC lawsuit.
The ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC) has continued to linger for over a year. While the lawsuit was expected to be over before the end of 2021, several issues emerged that further pushed the suit’s conclusion.
Some legal analysts, like attorney James K. Filan, expect the Ripple vs. SEC lawsuit to come to its logical conclusion on March 31, 2023. However, there is a tendency that the lawsuit could linger further than the expected date.
Attorney Filan, a former federal prosecutor, recently shared a scheduling update for the ongoing lawsuit between Ripple and the SEC.
Motions to Exclude Expert Testimony
According to Filan, many disputes still need to be addressed, and the motions to exclude expert testimony top the list. The parties filed the motion to exclude expert testimony under seal on July 12, 2022. The process continued until August 30, 2022, when the parties also filed replies to all opposition.
Currently, the court has fully briefed all portions of the opposition. However, any requests to seal portions of the exclusion motion replies must be filed on or before September 9, 2022, while replies to these requests must be filed by September 16, 2022.
Dispute Over Hinman’s Documents
Another important issue that still needs to be fully addressed is the SEC’s attorney-client privilege claim over William Hinman’s documents. It can be recalled that the SEC’s moves to keep the draft of Hinman’s 2018 speech were denied on multiple occasions by Judge Sarah Netburn. With Judge Netburn turning down the SEC’s attorney-client privilege claims, the commission was prompted to object to the ruling before Judge Analisa Torres.
Judge Torres is yet to rule on the Securities and Exchange Commission’s objection to surrendering the Hinman documents. Attorney Filan noted that if Judge Torres turns down the SEC’s objection, the agency may be prompted to file an interlocutory appeal to the Second Circuit.
However, for this to happen, the SEC would have to request certification of an interlocutory appeal from Judge Torres, which usually takes time. Interestingly, attorney Filan does not think Judge Torres would grant the certification in the Ripple case.
Motions for Summary Judgment
Furthermore, the parties are expected to file a motion for summary judgment and Rule 56.1 statements by September 13, 2022. Opposition to the motions must be filed by October 18, 2022, and replies to each opposition will follow by November 15, 2022.
It is expected that the parties will also encounter sealing disputes in the summary judgment just like the expert challenge motions.
“I am sticking to my prediction that District Judge Torres will decide both the expert motions and the summary judgment motions at the same time – on or before March 31, 2023. I have no prediction on when the Hinman email dispute will be fully and finally resolved,” attorney Filan said.
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