Breaking News: Ripple Labs Lawsuit Scheduled for Jury Trial in 2024
Judge Torres has announced that the lawsuit between the SEC and Ripple Labs will proceed to a jury trial in the second quarter of 2024. Here’s what you need to know:
– Important Dates: August 23, 2023, is the deadline for blackout date submissions. December 4, 2023, is the deadline for motions in limine, oppositions to these motions, and pretrial filings. A final pretrial conference date will be set later.
– The Focus of the Trial: This trial is not about determining the status of the XRP token as a security. It will solely focus on whether Ripple’s top executives, Brad Garlinghouse and Chris Larsen, aided and abetted in selling unregistered securities.
– No Re-evaluation of Previous Rulings: The trial will not revisit any matters of law previously determined by Judge Torres. It will only address the specific allegations against Garlinghouse and Larsen.
– Reactions and Clarifications: Lawyer Jeremy Hogan predicts the final judgment might not be seen until summer 2024 or even 2025 if there’s an appeal. CryptoLaw US clarifies that the trial does not question Ripple or the legal status of XRP, but rather aims to resolve disputed facts involving the executives.
Your Hot Take: Ripple’s Fate Hinges on Executives’ Actions
The Ripple Labs lawsuit taking place in 2024 will bring Ripple’s top executives, Brad Garlinghouse and Chris Larsen, under scrutiny. While the broader legal questions around XRP have been settled, the verdict of this trial will determine the involvement of Garlinghouse and Larsen in selling unregistered securities. The outcome may have significant implications for Ripple and the cryptocurrency market.
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