Insights from the 3 Ripple Lawsuit Trials in Crypto Law

Key Developments in Ripple-SEC Lawsuit: Insights and Exclusions Revealed

In the ongoing legal battle between Ripple and the SEC, new insights have emerged that shed light on crucial aspects that won’t be part of the trial. A pretrial scheduling order has been issued by Judge Torres, providing important details for the trial ahead. Notably, a jury trial is anticipated for the second quarter of 2024. Key upcoming dates include the submission of blackout dates for the trial by August 23, 2023, and the presentation of motions and oppositions by December 4 and 18, respectively. The parties are also expected to deliver necessary pretrial filings and documentary exhibits to the court by December 4. The scheduling of a final pretrial conference date depends on the determination of the trial date.

However, what is especially interesting is what won’t be part of this trial. CryptoLaw founder attorney John E. Deaton took to Twitter to provide enlightening “fact checks” regarding three exclusions. Firstly, Ripple’s overall existence won’t be under examination during the trial. Secondly, Judge Torres’ previous ruling that designated XRP as a non-security won’t be revisited. Finally, the trial will solely address specific factual disputes and won’t delve into matters of law.

The remaining contentious issues revolve around allegations against Ripple executives Chris Larsen and Brad Garlinghouse. The SEC’s recent request for an interlocutory appeal and a stay of proceedings during the appeal process has added a new layer to this legal saga. Pro-Ripple lawyer Jeremy Hogan has commented on the SEC’s actions, noting that the appeal doesn’t focus on classifying XRP as a security but rather on programmatic and individual sales issues.

These new insights highlight the complexity and evolving nature of the Ripple lawsuit. It is clear that while certain aspects will be addressed in the trial, there are also significant exclusions that have been established. As the legal battle continues, stakeholders and observers will closely follow the developments and how they may impact the future of Ripple and the SEC.