Ripple Labs and the Securities and Exchange Commission (SEC) have reportedly submitted a list of dates indicating their availability and unavailability for the trial scheduled in the second quarter of next year. This development marks another chapter in the ongoing legal saga.
Today, esteemed XRP attorney Bill Morgan shared his estimations on social media platform X. He suggested that the trial is unlikely to commence before April 19, 2024, considering the relevant dates. Judge Analisa Torres ruled XRP not a security. She also announced the Court’s 2024 Q2 trial schedule.
Looking at all parties unavailability the trial cannot start until after 19 April 2024. https://t.co/Ibr9TSYjAD
— bill morgan (@Belisarius2020) August 23, 2023
This indicated that the SEC-Ripple summary judgment would remain in effect until further notice. Additionally, they gave both parties a deadline to submit their blackout dates for this upcoming event.
According to defense lawyer James K’s statement, ripple CEOs Garlinghouse & Larsen addressed Judge Torres’ trial date query. Filan’s Twitter thread. They informed him that the period from April 1 to April 14 would be inconvenient.
In an official letter addressed to Judge Torres, attorney Michael K. Kellog stated:
Defendants Ripple Labs, Inc. is submitting this letter in compliance with the Court’s Order. This communication aims to inform the Court about our availability for trial dates during the second quarter of 2024. It is crucial to note that Defendants Ripple has no blackout dates and can participate in proceedings throughout the entire second quarter of 2024.
SEC Responds To Court’s Request Amidst Crypto Turmoil
The SEC has responded to the Court’s request, notifying them of their availability for the trial in April, May, and June. They have excluded dates such as April 15-19, May 1-7, and May 27-31 from their list.
The journalist Eleanor Terret shared a copy of the SEC’s letter with Judge Torres on her official Twitter page to provide an overview of their available dates.
— Eleanor Terrett (@EleanorTerrett) August 23, 2023
A ray of hope emerged for crypto investors after dramatic events in the industry, including the SEC’s lawsuits against various exchanges and tokens.
Judge Torres’ ruling ordered a trial, but it boosted confidence among XRP investors and enthusiasts who firmly believe in its non-security classification. They expect the cryptocurrency to remain unaffected by the ongoing legal proceedings.