Judge Torres Schedules XRP Remedies Discovery and Briefing
A court filing dated late November 13 indicates that Judge Analisa Torres has established a schedule for remedies-related discovery and briefing.
Upon thoroughly examining the letter dated November 9 from Ripple and the U.S. Securities and Exchange Commission (SEC), the judge has issued an order on remedies discovery and briefing concerning institutional sales and other pending claims.
The parties are obligated to finalize remedies-related discovery by February 12, 2024.
By March 13, the plaintiff SEC must submit its brief alleging violations of Section 5 on its institutional sales of XRP and other components.
The defendant, Ripple, is then obligated to submit its opposition by April 12.
The plaintiff will have one week from April 29 to submit its response to Ripple.
Bill Morgan, an attorney for pro-XRP interests, stated that the SEC brief on remedies is due nine days before the Wave of Innovation 2024 XRP Gold Coast Conference.
John Deaton, an attorney representing 75k XRP holders, is the keynote speaker at the conference.
He stated that barring a settlement by the parties before the schedule, the XRP litigation will likely yield a wealth of information for the public, particularly regarding remedies discovery.
Attorney Jeremy Hogan asserts that a final verdict is possible in July, given that the final briefs were submitted in April.
Additionally, he mentioned that Ripple is the only defendant since the SEC dismissed charges against the company’s executives, Brad Garlinghouse and Chris Larsen.
“Final briefs in April means a Final Judgment in July. But more importantly, look at the case heading – the only Defendant is Ripple. The defense has whittled the case down to only 20% of what it used to be. How much of it will be left in July?? That’s why you hire TOP lawyers.”