Ripple v. SEC: Here’s Next Important Date
Former federal prosecutor and Ripple enthusiast James K. Filan informs the XRP community of the next key date in the Ripple-SEC lawsuit.
The next key date in the SEC lawsuit could be Nov. 9, 2023, when the parties are expected to jointly propose a briefing schedule about remedies.
#XRPCommunity #SECGov v. #Ripple #XRP By November 9, 2023, the parties shall jointly propose a briefing schedule with regard to remedies. If the parties cannot agree on a schedule, Judge Torres will set the schedule. pic.twitter.com/OHOG0FNPV2
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) October 24, 2023
The recent win in the lawsuit that saw the dismissal of the charges against Ripple executives Brad Garlinghouse and Chris Larsen warranted a change in the previous scheduling order.
On Oct. 23, an order was signed officially by Judge Torres dismissing the case against Ripple executives Brad Garlinghouse and Chris Larsen.
As stated in a court document shared by Filan, the parties have stipulated the dismissal with prejudice to the SEC’s claim that the individual defendants aided and abetted Ripple’s violation of Section 5 of the Securities Act with “institutional sales” of XRP.
card
The voluntary dismissal obviates the need for the scheduled trial on this claim and thus moots the Oct. 3, 2023, scheduling order.
Thus, the SEC and Ripple intend to meet and confer on a potential briefing schedule concerning the pending issue in the case as to what remedies are proper against Ripple for its Section 5 violations concerning its institutional sales of XRP and requested a deadline of Nov. 9, 2023, to propose such a schedule to the court.
The court granted the request and ordered that by Nov. 9, 2023, the parties propose a joint briefing schedule for remedies or, if they cannot agree, jointly request that the court set a briefing timetable.
The final pretrial conference on April 16, 2024, and the trial on April 23, 2024, are also adjourned sine die, according to the document. In this context, attorney and XRP enthusiast Jeremy Hogan defines “sine die” as “without day,” implying that the proceedings have been canceled with no plans to reschedule them.
In an earlier tweet, Hogan indicated that, from his perspective, the Ripple case was over because the SEC dismissed the rest of the case, and there would be no more trials in 2024.