John Deaton, the prominent attorney representing XRP investors in the SEC vs Ripple dispute, recently recorded a video for CryptoLawUS expressing his clients’ anxiety about waiting for a verdict. Deaton knows the case length has caused individuals to speculate and express frustration.
Deaton highlighted the intricacy of the matter by noting that both Ripple and the SEC filed various requests for summary judgement and objections to the other party’s motions. The judge must go through a mountain of paperwork and sophisticated legal arguments.
The deadline for the response papers was six months ago, and on March 6th, a Daubert motion was filed regarding the admittance of expert witnesses. According to previous decisions she delivered in similar cases, the judge’s summary judgement findings happened anywhere from the same day as the Daubert decision to six months later.
This case was expected to be decided by September 6th, dispelling the notion that it is taking significantly longer than her previous ones. Because of the importance of the case and the subsequent attention it will get from other groups, including appellate courts, the judge is likely taking her time in reaching a decision.
Regarding the lawsuit’s length, the well-known attorney says that no prior cases have dealt with secondary sales in this fashion. Therefore, this case is a “first impression case” that fills a regulatory need. Fifteen amicus papers have been filed, demonstrating the significance of this issue to international commerce, financial markets, and domestic economic policy in the United States.
According to Deaton, Judge Torres manages nearly 500 pending cases, including 44 criminal proceedings, with various responsibilities and goals in mind. Despite assertions to the contrary, all cases on the docket are significant, even those in which the offenders face severe punishments.
According to Deaton, the notion that anything malicious might have happened here is just ridiculous. Even if Judge Torres is on the SEC’s payroll and is conducting an inside job, as some have claimed, Deaton finds it hard to believe that she would have ruled against the SEC in any way back then, much alone ordered the release of the Hinman emails.
They battled tooth and nail to keep the Hinman emails secret, and if she were corrupt and working for the SEC, she never would have let them out—his comments on the subject.
Deaton noted his satisfaction with the appointments of Judges Netburn and Torres, noting that he need not agree with every judgement they make but that they are fair in the aggregate. He referred to excluding a witness before the SEC who purported to represent XRP holders but had never done so.
Deaton concluded that if the verdict goes in favour of Ripple, the SEC may file a notice of appeal, and if the ruling goes against Ripple, the SEC may still file an appeal or attempt to negotiate.
Knowing that the Second Circuit and other high-ranking judges would be attentively studying his or her decision, the judge will take the time to carefully consider the case’s merits before rendering a final judgement.
Also Read: A Market Analyst Explains Why Bitcoin Could Soar to $310,000
