A major turning point in Ripple’s legal struggle with the SEC has occurred with the dismissal of all charges against the company’s top executives.
Jeremy Hogan, the attorney representing the defendant, emphasizes that the case is essentially over and that no major developments are expected in the remaining sessions.
Current developments favor Ripple over the SEC, and a definitive verdict from the court is likely next year. All accusations against Ripple’s leaders were recently dismissed, marking a turning point in the long-running legal battle between the company and the U.S. Securities and Exchange Commission (SEC). Well-respected attorney Jeremy Hogan offered his thoughts on an X post, stressing that the patient’s case is effectively over.
Hogan emphasized the need of leaving greater space for surprises in the next sessions. The facts are well-established, therefore no major surprises are to be anticipated. Now all eyes will be on the court’s ultimate ruling, which will largely affect Ripple, and is expected to be handed out sometime early in the new year.
In addition to the impending decision, there is also widespread talk of a potential compromise. Hogan said that while both the SEC and Ripple have the ability to appeal, the chances are significantly in favor of Ripple. The trial judge’s fact-heavy judgment does not provide much support to the SEC’s position, giving the agency just a 14.2% likelihood of success on appeal.
Hogan also spoke about what it would mean if he won an appeal against the SEC in 2025. He said that the structure of the first order meant that even if the SEC won, the matter would have to go back for more court examination. It’s not as easy as simply winning; you’ll have to go through several hearings and maybe appeals.
Hogan dug into the murkier parts of the case, such as the judge’s silence on “other distributions” of XRP, which he said might have a significant impact on the outcome. If similar problems emerge again, Hogan thinks a verdict in Ripple’s favor is the most likely outcome. Programmatic sales add another layer of intricacy, which might call for further judicial review if the Appellate Court disagrees with the trial court’s findings.
Based on the lawyer’s assessment, beating the SEC will take superhuman effort. Refusing a settlement, surprising everyone and winning an appeal, sitting through additional court processes, and ultimately winning another appeal are all part of the process. However, Hogan failed to account for variables that may significantly alter the probabilities, such as actions taken by Congress or a change in political leadership.
According to reports, major members of the SEC share Hogan’s optimism about Ripple’s prospects for ultimate success. This admission, together with Hogan’s comprehensive evaluation, highlights the case’s near-conclusive environment.
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