Ripple CTO predicts summary judgment for September, says delay not unusual

2023-7-11 14:04

Ripple (XRP) CTO David Schwartz predicted that Judge Analisa Torres would rule on the case between his company and the U.S. Securities and Exchange Commission by September, according to a July 10 tweet.

Schwartz made this statement in response to the frustrations among Ripple supporters over the delay in Judge Torres’s summary judgment decision. According to him, there is nothing “wrong, unusual, or strange” with the delay.

“I know waiting is annoying and we’d all love to have a ruling on summary judgment motions as soon as possible, but I wouldn’t think anything was wrong, unusual, or strange until at least the end of September.”

Pro-XRP lawyer John Deaton also corroborated Schwartz’s view, highlighting several instances where Judge Torres took up to seven months or more before ruling on a case. Dearon added:

I agree. On September 31, Judge Torres would be placed on the 6 month naughty judge list for the first time and her decision would be pending over 9 months. I didn’t review every case she has had but I didn’t find any that were longer than 9 months (although one was slightly longer than 8 months).

Deaton previously warned members of the XRP community not to contact the Judge, saying that such action would have no positive results.

The pro-XRP lawyer further noted that anyone who does that will incur the wrath of the XRP community and be hated more than SEC chair Gary Gensler if it affects the outcome of the case.

Meanwhile, Schwartz’s new projection is a few months apart from that of Ripple CEO Brad Garlinghouse. In May, Garlinghouse predicted that Judge Torres would issue a verdict about the case “in a few weeks” after the Judge ordered the financial regulator to unseal documents related to former SEC official William Hinman’s 2018 speech.

Ripple has been involved in a legal tussle with the SEC since December 2020 over allegations related to the sale of unregistered securities. XRP is trading at $0.474 and has gained 1.7% in the last 24 hours.

The post Ripple CTO predicts summary judgment for September, says delay not unusual appeared first on CryptoSlate.

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