lawyer John Deaton says U.S. District Judge Analisa Torres is aware of how important the outcome of the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple is.
Deaton, who represented XRP holders in the lawsuit, his 279,200 Twitter followers that the length of time Torres is taking to rule on the outcome of the case isn’t unusual.
“The Ripple and SEC Reply Briefs were filed in December. Thus, Judge Torres’ decision is now at seven months. Ripple isn’t the only one waiting, however. In the Thor Equities case, also before Judge Torres, the Reply Briefs were also filed in December. Judge Torres hasn’t yet ruled.
In the N.Y. District Carpenter’s fund case, Judge Torres’ summary judgment ruling took over EIGHT MONTHS from the Reply Briefs. Quiller Inc. vs U.S.A. took SEVEN months for Judge Torres’ decision. The Fitzgerald case, and several others I could name, took SIX months for Judge Torres to rule.
In short, although I, and others, believed that we would see a ruling before now, there are other cases and examples that have taken an equal amount of time. Judge Torres is likely aware of the magnitude of her decision.”
Ripple chief technology officer David Schwartz agrees, it wouldn’t be strange if Torres’ ruling on the parties’ summary judgment motions didn’t arrive until the end of September.
The SEC sued Ripple in late 2020, alleging that the San Francisco-based payments company sold XRP as an unregistered security.
Ripple chief executive Brad Garlinghouse predicted in May that a decision would arrive in “weeks, not months.”
