Important Ripple v. SEC Lawsuit Update Coming on April 16?

TL;DR

• The XRP army is awaiting developments on April 16, when Ripple’s appellate brief is due.
• Legal expert Fred Rispoli suggests there’s a 90% chance of a settlement or withdrawal notice.

The Official End is Near?

The Ripple community celebrated the supposed end of the lengthy lawsuit against the US Securities and Exchange Commission (SEC) last month when CEO Brad Garlinghouse said the agency had dropped its appeal against the company.

However, the regulator has remained silent on the matter, raising the question of whether the case has truly reached its conclusion.

The US attorney Fred Rispoli expects to see something happening on that front on April 16 or before. The date marks Ripple’s scheduled appellate brief.

The legal expert believes there is a minor 10% possibility that the firm files the document, while the chance of a notice of settlement/withdrawal is set at 90%. 

Rispoli also claimed that Ripple made the announcement about the dropped appeal without written assurances from the SEC. 

“Nothing official has been done yet to effectuate the public announcement,” he added.

The Latest Confrontation

A filing from Justin W. Keener became the recent bone of contention between Ripple and the SEC.

The court document was submitted at the start of April and represents “an emergency request” to Judge Analisa Torres to “present decisive evidence in favor of the defendants and in favor of liberty for the American people.”

It remains unclear how the information aids Ripple, but it hints at ties to investment contracts Keener has collected. Meanwhile, the agency recently sued him for acting as an unregistered penny stock dealer, leading to a $10 million penalty.

Earlier this week, the Commission opposed the “emergency request” for three important reasons. It claimed that the District Court had no jurisdiction over the filing since the case had already been transferred to the Second Circuit and argued that Keener failed to file the correct motion to intervene.

Furthermore, the SEC labeled the request “unnecessary,” asserting that Ripple is capable of deciding for itself whether the evidence could benefit its case.