The SEC’s lawsuit against Ripple has been ongoing since December of 2020. The constant delays from SEC have worried many in the community. Meanwhile, many predict the lawsuit to conclude by March of 2023.
In a recent Tweet, Jeremy Hogan, a partner at the legal firm Hogan & Hogan, said that he believes the ruling on the Hinman emails will be made this week. He feels so because motions to strike expert witnesses are due next Tuesday, which may hasten the court’s decision.
Additionally, Hogan said that he looks forward to Ripple’s motion to strike Patrick Doody’s report. Doody’s report explained why XRP holders purchased the asset in the first place.
Hinman’s speech key to Ripple’s defense?
The Ripple defense team focuses on a speech by William Hinman in 2018. Hinman is the former Director of the SEC’s Division of Corporation Finance. The address was made at the Yahoo Markets Summit. In the speech, Hinman said that Ethereum (ETH) magically changed from a security to a non-security. This was a giant leap as, at the time, there was no clear guidance from the SEC on how they would classify digital assets.
The SEC has made several attempts to barricade the drafts of Hinman’s speech. However, the court dismissed their argument of deliberate process privilege (DPP). The agency is now trying to persuade the court that the attorney-client privilege protects the documents.
The Hinman speech has taken center stage in the SEC-Ripple lawsuit. The ruling on this issue will surely bring some clarity to the case.
Moreover, defense lawyer James K Filan has revealed that Ripple has employed two additional lawyers. The latest additions are Kylie Chiseul Kim and Clayton J. Masterman from the Kellogg Hensen law firm.
Filan had previously also released an updated schedule with important dates regarding the SEC-Ripple lawsuit.