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Deaton names people who will know about the lawsuit’s ruling date and final decision.
Anticipation for an outcome in the Ripple vs. SEC lawsuit has reached a fever pitch. Some XRP community members had relied on the prediction by pro-XRP lawyer James K. Filan, who predicted that Judge Analisa Torres’ ruling would come before the end of March. However, his prediction did not pass as XRP holders watched in bewilderment.
With many XRP supporters asking why Judge Torres didn’t rule yesterday as predicted, CryptoLaw founder attorney John Deaton named the only insiders who may know about the exact date of the ruling.
According to Deaton, Judge Torres’ staff and the court’s clerk are the only ones who would know about the Ripple vs. SEC ruling date.
“The only people who will know before the Judge publicly issues her ruling is her staff and any clerks who helped her with research or helped the decision,”said Deaton.
I see comments about “insiders” and whether @Ripple and the SEC will learn before hand. The only people who will know before the Judge publicly issues her ruling is her staff and any clerks who helped her with research or helped ✍️ the decision. https://t.co/EjcK25BRMc
— John E Deaton (@JohnEDeaton1) March 31, 2023
His recent assertion is in response to XRP enthusiasts who believe Ripple and SEC execs will know about the date. It bears mentioning that Deaton’s comment comes a few hours after he predicted that Judge Torres’ ruling could take up to 60 days before it comes.
Notably, several XRP enthusiasts expressed disappointment after Judge Torres failed to issue a ruling yesterday (March 31), as predicted by Filan. Reacting to a comment on the issue, Deaton clarified that yesterday was not the deadline for Judge Torres to give summary judgment. He stated that Judge Torres could rule in the next hour, or she could decide to release the ruling in the next two months.
Based on her previous cases, Deaton said Judge Torres usually issues summary judgment a few months after deciding Daubert’s motions.
It bears mentioning that Deaton is highly involved in the lawsuit, representing XRP community members in the capacity of amicus curiae (friend of the court). As amici curiae, Deaton hopes that Judge Torres will issue a ruling in favor of XRP holders by declaring that the coin’s secondary market transactions do not constitute a security.
Yesterday, Deaton highlighted four possible lawsuit outcomes that could favor XRP holders. For all four outcomes, Deaton speculates that Judge Torres could rule that XRP secondary market transactions are not securities.
However, in the likelihood that Judge Torres grants a summary judgment in SEC’s favor and fails to comment on XRP, Deaton said he would attempt to get the Judge to clarify the crypto asset, the same move he pulled in the LBRY case.