The ongoing XRP lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC) has taken another turn, as the presiding judge has denied the SEC’s motion for an appeal. This denial signifies a resolution on the matter, and the case will now proceed without an early appeal. This development has sparked confusion about the next steps in the case, and legal expert Jeremy Hogan has shed light on the potential outcomes.
Judge Analisa Torres has not only denied the SEC’s motion for an appeal but has also directed both parties to meet in person for a settlement discussion. This meeting must take place before the pretrial conference scheduled for April 16, 2024. Legal experts consider this settlement discussion to be a favorable outcome for both parties. It offers the opportunity for a resolution and avoids a lengthy trial.
Hogan clarifies that while the SEC still has the right to appeal, it can only do so after the final judgment is made. This means that an appeal won’t be filed until 2025, and a final resolution may not be reached until 2027. Hogan predicts that there is a 39.456 percent chance that the SEC will proceed with the trial against the individual defendants next April. Given the losses the SEC has experienced so far, experts believe they face a significant risk of an outright loss at the final judgment.
Alternatively, there is a 32.113 percent chance that the SEC could settle with the defendants and then move forward with obtaining a final judgment against Ripple. Hogan considers this the best option for the regulator but believes it is unlikely to happen. There is also a possibility of the SEC settling all litigation against Ripple and the individual defendants. This could occur during the settlement conference directed by the judge. A settlement would benefit both parties, as it would save face, time, and resources. Hogan estimates the likelihood of this happening at 18.987 percent.
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In the current state of affairs, the summary judgment remains the standing law. This ruling gave Ripple a partial victory by stating that XRP is not a security. The outcome of this case holds significant implications for the entire crypto community, as it sets a precedent for the industry.
As the case progresses, it’s important to note that Crypto News Flash does not endorse or take responsibility for any content, accuracy, quality, advertising, products, or other materials mentioned. Readers should conduct their own research before making any decisions related to cryptocurrencies. The publication disclaims any direct or indirect liability for damages or losses caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
The latest development in the Ripple v. SEC case has dealt a blow to the SEC, as their motion for an appeal has been denied by the presiding judge. This denial signifies a resolution on the matter and raises questions about the next steps in the case. Legal expert Jeremy Hogan has shared his insights on the potential outcomes of this development.
Judge Analisa Torres has not only denied the SEC’s motion for an appeal but has also instructed both parties to meet in person for a settlement discussion. This meeting must take place before the pretrial conference scheduled for April 16, 2024. This settlement discussion offers an opportunity for both parties to reach a resolution and avoid a lengthy trial.
Hogan clarifies that while the SEC still has the right to appeal, they can only do so after the final judgment is made. This means that an appeal won’t be filed until 2025, and a final resolution may not be reached until 2027. Hogan predicts that there is a 39.456 percent chance that the SEC will proceed with the trial against the individual defendants next April. Experts believe that the SEC faces a significant risk of an outright loss at the final judgment, considering the losses they have suffered so far.
Alternatively, there is a 32.113 percent chance that the SEC could settle with the defendants and then move forward with obtaining a final judgment against Ripple. Hogan believes that this is the best option for the regulator but considers it unlikely to happen. Another possibility is the settlement of all litigation against Ripple and the individual defendants. This could occur during the settlement conference directed by the judge. Hogan estimates the likelihood of this happening at 18.987 percent.
In the current state of affairs, the summary judgment remains the standing law. This judgment ruled that XRP is not a security, giving Ripple a partial victory. The outcome of this case is significant for the entire crypto community, as it sets a precedent for the industry.
It is important to note that Crypto News Flash does not endorse or take responsibility for any content, accuracy, quality, advertising, products, or other materials mentioned. Readers should conduct their own research before making any decisions related to cryptocurrencies. The publication disclaims any direct or indirect liability for damages or losses caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
