Ripple v. SEC: Court Changes Proposed Calendar


Alex Dovbnya

Under the new schedule, motions for summary proceedings must be fully notified one month earlier than expected

Analisa Torres, a judge for the United States District Court for the Southern District of New York, has prepared a briefing schedule for Ripple and the US Securities and Exchange Commission in her recent order.

At the end of March, the court asked the parties to agree on the filing schedule for summary proceedings.

After consultation and consultation, the parties submitted a joint planning proposal for approval by the court on April 29.

Torres has reviewed the parties’ letter and has ordered that all motions to exclude expert testimony be fully notified by the end of August. The scheduling order does not apply to motions intended to block the expert testimony of financial expert Anthony M. Bracco. Such testimony can only be submitted “once the issue of remedies is ripe,” the judge said.

The parties must submit an application for summary judgment by September 2021 at the latest. Ripple and SEC have just over a month to file their oppositions and motions.

In accordance with the calendar amended by the judge, summary judgment motions must be fully notified by November 15, a month earlier than the deadline originally proposed by the two sides.

Ripple was sued by the SEC in December 2020. The regulatory watchdog accused one of the largest crypto firms of selling unregistered securities in the form of the XRP token.

As reported by U.Today, CEO Brad Garlinghouse recently said the lawsuit went “well.” He also noted that the company was operating as if it had already lost as 95% of its operations are located outside the US

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