The United States Securities and Exchange Commission (SEC) announced through official channels that Ripple filed a lawsuit against Ripple on December 23, claiming that it had carried out an unregistered security sale of $ 1.3 billion.
Coinbase, Crypto.com, Bitstamp OkCoin, and a few other exchanges started to suspend Ripple's XRP after the SEC sued Ripple. During the day, there was a harsh criticism of both the SEC and the stock markets by Ripple. Ripple statement in full.
In light of the allegations in the SEC's lawsuit, Ripple described it as an attack. Ripple also made statements about exchanges and traders outside of the SEC, stating that they were muddling the water.
Ripple Court Date Announced! When Is the Ripple Lawsuit Concluded?
"When is the Ripple litigation deadline" question is one of the issues closely followed by both Ripple investors and general cryptocurrency investors. According to the information we have reached as Kripto Sozluk TV, the first hearing of the Ripple case is on February 22, 2021!
A Pre-Trial Conference will be held with Judge Torres on February 22, 2021. The purpose of this conference is to determine if there is hope for dates of reconciliation and discovery.
The case will not be resolved on this date. Discovery is the process by which the parties learn basically everything they can about the other party's facts. They can request documents and take statements (interviews). All real witnesses and documents etc. Information about will be obtained.
In Judge Torres, a period of 120 days can be set for his true discovery. (This period can be shortened). After this 120-day period, Torres gives 45 days for Expert discovery. The final pre-hearing takes place 30 days after the submission date.
A hearing is then held. So, if this goes to trial, it could at best come to a realist conclusion 195 days from February 22, 2021.
When Is the Ripple Lawsuit Concluded?
The Ripple case seems to be concluded in 195 days at best. 195 days later comes to September 5, 2021. However, this seems unlikely. There may always be delays in order to extend discovery or gain new knowledge.
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