SEC Vs. Ripple Update: June 7th Next Key Date says Defence Lawyer

Paigambar Mohan Raj

The SEC-Ripple lawsuit has been a hot topic for some time now. The court case has been ongoing since December of 2020.

On May 18th 2022, the SEC responded to a Ripple response to an SEC brief asserting that William Hinman‘s speech-related materials are protected by the attorney-client privilege. The SEC’s and Ripple Labs’ defence teams are focusing on Hinman, former Director of the SEC’s Division of Corporation Finance, and a 2018 speech made by him.

Defense counsel James Filan said this morning that a conference would be held on Tuesday, June 7, 2022, to consider the SEC’s claims of attorney-client privilege over the 2018 Hinman speech papers. 

The SEC and Ripple Lab legal teams are expected to appear in person, according to a letter from Judge Sarah Netburn. For the June 7 conference, Judge Netburn did not give any dial-in information.

Ripple Labs filed a motion to compel in August 2021. Since then, Ripple defense counsel Matthew Solomon has objected to the SEC brief, citing the SEC’s filing of at least six applications to contest Ripple’s motion to compel. The courts remained silent until Tuesday, following the SEC’s May 18 response to a Ripple Lab statement on May 13.

With the courts having previously found in Ripple Lab’s favor twice, any further ruling in Ripple Lab’s favor will very certainly result in further SEC efforts to overturn the court’s decision.

When will the SEC-Ripple lawsuit conclude?

Filan had previously taken to Twitter in order to share an updated schedule with important dates. He had also shared a document along with the Tweet which shed light on 7 awaited judgements.

As per the document, motions for summary judgment and opposition to these motions must be filed by September 13th and October 18th, respectively. All briefings should be completed by November 15th, after which Judge Torres’ final decision will be awaited.

The defense attorney for Ripple, on the other hand, stated that a variety of issues may be resolved at different periods, making the dates fairly hypothetical. According to Filan, Judge Torres’ findings on expert motions and summary judgment can be expected on or about March 31, 2023.