Ripple Vs. SEC: Redacted Versions of Replies Might Come Sooner

• The redacted versions of the replies by Ripple and the SEC are due by Monday.
• Defense lawyer James K. Filan stated that these replies might come sooner.
• Redacted replies would be filed under seal within 55 pages.

According to James K. Filan, a defense attorney and former federal prosecutor, some timelines in the ongoing Ripple lawsuit may come earlier. In one of his recent tweets, Filan stated that the parties, including Ripple and the SEC, have begun to file their replies under seal.

The replies, according to Filan, will be submitted to the opposition to the motions for summary judgment. He also added that the public redacted versions of the replies are due by December 5. Filan also hinted at the possibility that the replies may come sooner.

According to the timeline, both parties had until November 30 to submit their responses to the motions for summary judgment. These replies, which could only be 55 pages long and be filed under seal, would also include responses to the amicus briefs.

Since Filan mentioned that the parties have begun to file their replies under seal, the redacted replies will probably arrive sooner. The lawsuit is expected to be resolved quickly, but James K. Filan previously estimated that District Judge Torres would make a decision on the expert motions and the motions for summary judgment at the same period, on or before March 31, 2023.

The lawsuit, which was submitted on December 22, 2020, asserts that Ripple raised more than $1.3 billion using illegal methods. The co-founder of Ripple, Christian Larsen, as well as the current CEO, Bradley Garlinghouse, are also named in the SEC complaint and are accused of making material gains during the process.

If the SEC prevails in the legal dispute, XRP (the native crypto of the Ripple Blockchain) will no longer be regarded as a currency in the US but rather as a security.