All Quiet on the Ripple Legal Battle Front
As the next deadline in the legal battle between the SEC and Ripple approaches, legal expert Fred Rispoli notes that there has been a surprising lack of back-and-forth between the two parties. The completion of damages-related discovery is scheduled for February 12, but the SEC has yet to file any discovery motions. Rispoli believes that the SEC will take action soon, possibly filing a motion before the deadline. If they don’t, it could be a sign that both sides are trying to “play nice.”
Rispoli suggests that there are two possible outcomes at this point: either the regulator reviews the relevant materials and settles with Ripple, or the legal battle continues through the damages briefing until April 29. He believes that settling would be in the Commission’s best interest, as they have not fared well in court so far.
SEC’s Need for Compromise
If the SEC chooses to settle with Ripple, they will likely have to accept a lower sum than their initial demand of over $700 million. Ripple is confident in their position, having won several battles against the SEC already. They are unlikely to give in easily to the Commission’s demands. Looking at previous cases like LBRY, Ripple may expect the court to award a lesser amount in damages compared to what the SEC wants. Therefore, it would be beneficial for the SEC to compromise and reach a consensus with Ripple.
Hot Take: Settlement is Key for SEC
In order to avoid further losses in court, it is crucial for the SEC to settle with Ripple. The Commission has not been successful in their legal actions so far, and settling would provide them with an “easy win.” If they fail to settle and proceed to the damages briefing, they are likely to lose most of their requests. Therefore, it is in the SEC’s best interest to compromise and reach a settlement with Ripple, even if it means accepting a lower sum than originally demanded.
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