Expectations in the ongoing Ripple litigation are still in place as the much-anticipated start of the summary judgment briefings in September approaches. U.Today reported that motions for summary judgment are expected to be submitted by Sept. 13.
XRP-friendly attorney Jeremy Hogan is not left without expectations either, as he took to Twitter to highlight one key thing he hopes to see in the summary judgment briefings — “the extent Ripple makes the comparison between XRP and ETH.” Hogan wrote: “One thing I’m interested to see soon in the summary judgment briefings is to what extent Ripple makes the comparison between XRP and ETH.”
Great analysis by @ADingoAteMyXRP. One thing I’m interested to see soon in the summary judgment briefings is to what extent Ripple makes the comparison between XRP and ETH. https://t.co/e6aoWjojRw — Jeremy Hogan (@attorneyjeremy1) September 5, 2022
At the center of the Ripple lawsuit is a speech by former SEC official William Hinman in 2018 stating that ETH was not a security. Observers believe that the lawsuit could all come down to the speech made by the former SEC official four years ago.
The documents, according to Ripple, are necessary to demonstrate that the company did nothing wrong and that the SEC arbitrarily selected winners and losers in the budding cryptocurrency market. Ripple officials also think that the records that the SEC wants to keep secret will reveal disagreement among the agency’s top officials about labeling XRP security, undermining the SEC’s position.
Depending on the decisions that will be made and the motions that will be submitted, the remaining months of 2022 may be crucial in the dispute. Jeremy Hogan believes the “cards will be in the table” in this period.
Responding to a Twitter user on the likely timeframe for settlement of the case, Hogan predicts that the most “likely settlement timeframe is from now until the end of November because the cards will be on the table.”
According to the schedule shared by James K. Filan, while the summary judgment motions are expected by Sept. 13, the oppositions are expected to come in by Oct. 18 and must be answered by Nov. 15.
However, Filan predicts settlement to come next year as he expects that Judge Torres’ decision on expert motions and summary judgment might come on or before March 31, 2023.