Pro-XRP Lawyer Reveals Final Dates of Ripple and SEC Case
A pro-XRP lawyer, John E. Deaton, has disclosed the final dates of the Ripple and SEC case, shedding light on the upcoming dates and what might occur during the hearing. Deaton shared insights on his official YouTube Channel, Crypto Law TV, regarding the case ordered by US District Judge, Analisa Torres.
Final Case Dates and Filing Deadlines
According to the remedies and discoveries filing, both the US SEC and Ripple are ordered to conclude all remedies-related discovery by February 12, 2024. The SEC is expected to file its brief regarding the remedies by March 13, 2024, followed by Ripple filing its opposition by April 12, 2024. Finally, the SEC is slated to file its response to Ripple’s opposition by April 29, 2024. Deaton predicts that the culmination of the lawsuit would most likely be in July, during the summer.
Predictions on Damages and Attorney Expenses
In his recent live YouTube video, Deaton made interesting predictions about the Ripple and US SEC lawsuit. He mentioned that Ripple may end up paying less in damages than its attorney expenses, which has already exceeded $200 million. Deaton based his predictions on the $770 million disgorgement fine issued by the US SEC to Ripple. He mentioned several elements in the case that could reduce the initial charge, including ODL sales and XRP sales made outside the US.
Deaton pointed out that the case between the US SEC and Ripple was not a fraud case, and as such, the regulatory agency would be mandated to provide documents related to the victims allegedly harmed by XRP sales. He also stated that the majority of institutional investors have not suffered any harm as they presumably purchased XRP tokens at a price lower than the present value. Many XRP holders have stated that they did not experience harm from XRP sales but did incur losses due to the SEC’s attempted enforcement actions against the crypto firm.
XRP price holding at $0.62 | Source: XRPUSD on Tradingview.com
Featured image from The Coin Republic, chart from Tradingview.com
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