The defense lawyer for Ripple, James K Filan reveals that the judge presiding over the SEC (Securities and Exchange Commission) and Ripple case is expected to pass a ruling concerning the case soon.
Verdict Might Be Passed Soon
According to defense lawyer James K Filan, the SEC and Ripple lawsuit is likely to be resolved soon, as the judge presiding over the case prepares to render a decision.
Filan revealed that the judge on the bench intends to consolidate all of the cases awaiting verdict and issue this decision in a single ruling.
However, three major pressing cases must be resolved before this ruling is issued.
These cases include the Hinman record and other evidence presented to the court by the SEC, as well as some other court proceedings.
He went on to say that he believes Judge Torres will make a decision about those cases together, and that when it comes out, it will be a single ruling.
He also referenced this to the Goldman Sachs case, in which the Judge took a similar approach and passed a judgement in one ruling.
Signs Of The Lawsuit Conclusion
The two-year-long, drawn-out dispute began to show hints of resolution on December 2nd when both parties involved filed and turned in their written opinions to each other’s decision of a single ruling.
The SEC’s opposition brief, which was reported from Ripple’s submission, implied and confirmed that the SEC agreed to allow Ripple’s request for one ruling to be granted.
There was no proof that the Ripple XRP tokens were pledged as an offer or sale of an investment contract, which further demonstrated that the majority of SEC charges were unfounded.
The firm’s general counsel had also praised the firm’s tenacity and unflinching courage, saying he was extremely proud of the defense the company had mounted against the SEC’s allegations and that if the accusations were dropped, it would be a big win for the crypto community.
Ripple CEO Brad Garlinghouse also backed the defense layer in his final brief submission, which stated that in this concluding part of the case he asks the court to grant this judgement in Ripple’s favor because they had cooperated throughout all of the court proceedings.
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