In the ongoing lawsuit involving Ripple Labs and the US Securities and Exchange Commission (SEC), legal experts in the pro-XRP community are predicting that the company will likely lose its latest court motion. In a recent post on Platform X, attorney Jeremy Hogan highlighted Ripple’s potential loss in its recent legal action.
In his post published on May 2, Hogan wrote: “The hardest thing to do in CT is say you think the SEC will win a motion. But HERE GOES: I think the SEC will win this motion. And even if the Court considers the witness to be an “expert”, I think that instead of attacking the witness, it will just allow Ripple to depose him, etc., as he did before. Now, if you’ll excuse me while I go pray that I’m wrong, which doesn’t happen very often.”
The comment came following an update from attorney James K. Filan who shared Ripple’s filing of a letter seeking additional support for its motion filed on April 22 to eliminate new specialized materials and in response to the SEC’s opposition on April 29. April to this strike motion.
The hardest thing to do on CT is say that you think the SEC will win a motion. But HERE GOES:
I think the SEC will win this motion.
And even if the Court finds the witness is an “expert,” I think instead of striking the witness, it will just allow Ripple to depose her, etc.… https://t.co/UtWVERaeGy
— Jeremy Hogan (@attorneyjeremy1) May 2, 2024
In addition to Hogan, another lawyer from the pro-XRP community, Bill Morgan, also highlighted his pessimistic view regarding what should happen with Ripple. In one publication, Morgan declared: “I think Ripple will lose the motion, but the judge will accept that Fox provided some expert evidence and allow Ripple to testify. Then we can see what the SEC says on May 6th in its brief response on solutions and then wait for a decision on solutions.”
Ripple vs SEC: Response on May 6 could seal the course of the case
In a recent development in the crypto community, the ongoing lawsuit involving Ripple Labs and the US Securities and Exchange Commission (SEC) could set a definitive course next week. Recently, the XRP community has been anticipating that the regulator will issue a brief response by May 6 (next Monday) in response to the company’s opposition to the SEC’s request for a fine of approximately $2 billion.
Following recent developments in the lawsuit, the US regulator is expected to submit its comment regarding Ripple’s opposition by May 6. On April 29, the regulator made its presentation related to opposing Ripple’s motion seeking to eliminate new SEC specialized materials. These documents are expected to be the final presentation before Judge Analisa Torres’ ruling on Ripple’s penalty for selling XRP to institutional investors.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/especialistas-juridicos-pro-xrp-preveem-derrota-da-ripple-em-sua-ultima-acao/
