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Ripple believes the lawsuit will be over before November this year

Ripple believes the lawsuit will be over before November this year 2

A document confirmed the expectations of Ripple firm on the current ongoing lawsuit fight against US regulators will be over before the end of this year.

Ripple is a San Francisco-based Fintech firm, which is known to provide payment services to small and big companies because of its unique centralized DLT network technology. Since December 2020, Ripple is facing a lawsuit threat by the US securities and exchange commission (SEC) on the XRP token nature, whether it is a security or not. 

On 6 March, Attorney Jeremy Hogan informed the XRP Community about a detail of the Ripple vs SEC Lawsuit and noted that the Ripple team believes that the case may extend maximum to August 26 and November 18, 2022.

These details have been quoted from the case document of Ripple, where Ripple precisely wrote the date. But besides these things, Jeremy claimed that dates are only maximum time frame expectations and the case will end before it. 

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The document confirmed that Ripple has appealed to reschedule this case action to over Before November 18, 2022. Stated that: 

“Due to the overlap of factual and legal issues between this case and the SEC action, the parties agree that there are efficiencies in having certain aspects of the SEC action precede certain deadlines in this action.”

The company also stated that reducing the issues, in this case, will reduce the load on both the parties and also will give less burden on the court proceedings. 

Jeremy claimed that the lawsuit will get over before September or October and further the case will be over with the ending of collateral estoppel, where the opposition party will not be able to restart the case, no matter what the old or another matter was.

Earlier this, the defense attorneys noted that there are no points on the side of the SEC agency and also no further delay will take place, so the case will move more quickly over the dispute.

Read also: El Salvador’s 10 reforms on Bitcoin coming next week: Nayib Bukele

Ripple believes the lawsuit will be over before November this year


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