Legal Expert Weighs in on Ripple CEOs Prediction of Imminent End to SEC Case

Legal Expert Weighs in on Ripple CEOs Prediction of Imminent End to SEC Case


Ripple CEO predicts that the legal battle with the SEC will end in weeks, according to a recent interview, but pro-Ripple lawyer John E. Deaton expressed his skepticism on Twitter.

Ripple CEO Brad Garlinghouse stated in a recent interview with Mukaya Panich, the CEO of SCB 10X, that he expects Ripple’s prolonged legal battle against the United States Securities and Exchange Commission (SEC) to be over in weeks. 

Nonetheless, Garlinghouse stated in the interview he expects the court case resolution “in weeks, not months,” following the past few court news regarding the Hinman emails would be made public.

It’s worth noting that, John E. Deaton, Managing Partner of the Deaton law company, shared his take on Garlinghouse’s predictions on May 25 on Twitter. 

The pro-Ripple lawyer informed Garlinghouse: “good luck with that prediction,” followed by a laughing emoji. Deaton likewise tagged other prominent lawyers in the tweet, including Jeremy Hogan and James K. Filan.

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1 Twitter user requested Deaton why he was being skeptical about the case potentially coming to an end in several  weeks, to which the legal expert remarked:

“You’re reading the tweet wrong (or I worded it poorly). I didn’t imply that I was skeptical – clearly, I agree with him. I’m making fun that some of us have been off in our predictions, so I’m saying good luck with his.”

The previous  30 days, Deaton said that he’d be shocked if the case gets resolved thereafter than May 6. 

Ripple CEO believes lawsuit may be over in weeks

As mentioned, Garlinghouse’s comments on a potential resolution timeline come after a recent decision of Judge Analisa Torres to block the SEC’s motion to seal the controversial ‘Hinman documents.’ 

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More in particular, the documents refer to the securities regulator’s internal communications involving a speech of previous Division Director William Hinman in 2018, when he stated that Bitcoin (BTC) and Ethereum (ETH) were not securities. 

The copy of the judgment was shared on Twitter platform by the previous defense attorney James K. Filan, who was tagged in Deaton’s tweet today. 

Garlinghouse thinks that the judge’s decision to deny the SEC’s attempts to seal the documents signifies the broader court’s sentiment toward the lawsuit.

The documents are expected to be revealed to the public on June 13 –  per the Court Order from September 9, 2022, which indicated that both parties had exactly 21 days after the sealing ruling to file public, updated versions of the related summary judgment papers.

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