Jeremy Hogan, Attorney of the Hogan & Hogan law firm in Orlando, elucidated in a new YouTube video regarding the pre-trial conference of the SEC v/s Ripple lawsuit. He discussed about the happenings on February 22. According to the attorney, the date is a standard initial hearing in federal court. It is a telephone conference, with only single attorney from each party engaging in the call. The goal of the hearing is to attain peace on the timeline for the litigation. Ripple and the SEC should submit a proposed “Case Management Order” by February 15, locking all the litigation deadlines.
First Settlement involves discovery deadline in SEC v/s Ripple Lawsuit
As Hogan elucidated in the video, he predicts how long they will set each deadline as part of the process. According to him, firstly is the “discovery deadline,” a real date on which Ripple and SEC can direct questions on the documents presented. Moreover, Hogan revealed that the SEC would need details of Ripple’s coins. He says that this process will consume around eight to nine months, and both parties’ lawyers decide on the settlement outcome.
Each lawyer will see the documents conferred and determine the probability of winning the case. Both parties may arrive at a settlement if they conclude. Furthermore, after both parties have obtained ample ground upon inspection of documents produced. Another party will be involved in the second settlement stage. A new attorney will attempt to operate with the other two to reach a settlement agreement. Hogan deciphers that this is when they may attain settlement.
Moreover, the third scenario is the period of meditation where authorities will place a CMO. If there is no settlement upon meditation, the case may continue till October 2021. There is also a deadline for “dispositive motion.” As Hogan explained, the litigation could achieve settlement in a “summary judgment,” which could be in late 2021. According to Hogan, the fourth possible scenario is that the case proceeds to summary judgment, and the defeated side appeals to the 2nd Circuit. The case could then extend into early 2023, as the relevant court’s average time from notice to disposition is 10.6 months.
Follow BitcoinWorld for the latest updates.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.