Ripple Executive Reveals Expected Summary Judgment On SEC Case, And Waiting Isn't That Long

A lot of people have predicted the timeline of the release of the summary judgment in the ongoing SEC vs. Ripple case, but this time, Ripple Labs' chief technology officer (CTO) has said that the ruling might be released sometime in September.

According to Ripple CTO David Schwartz, Judge Analisa Torres, the federal judge handling the SEC vs. Ripple case, might deliver her verdict by the end of September 2023.

"I know waiting is annoying and we'd all love to have a ruling on summary judgment motions as soon as possible, but I wouldn't think anything was wrong, unusual, or strange until at least the end of September," Schwartz tweeted.

The executive's prediction was agreed upon by CryptoLaw founder and pro-Ripple lawyer John Deaton, who previously gave his prediction on the timeline of the release of summary judgment.

Deaton, this time, said that the timeline would mean the judge took nine months to come up with the decision.

"I agree. On September 31, Judge Torres would be placed on the 6 month naughty judge list for the first time and her decision would be pending over 9 months. I didn't review every case she has had but I didn't find any that were longer than 9 months (although one was slightly longer than 8 months)," he said in response to Schwartz's tweet.

Last month, Deaton said that the eagerly awaited court decision could potentially be issued on Sept. 6, drawing upon the historical patterns of previous cases presided over by the federal judge.

"There was a case that she decided, where her summary judgment decision came six months after her Daubert decision. So six months from her Daubert decision, if it were on March 6, [it] would be September 6," he said in a live stream.

The CryptoLaw founder is trying to apply Judge Torres' six-month timeframe ruling on the Daubert motion in the Ripple Labs lawsuit on March 6, hence arriving at the Sept. 6 date.

This forecast is a little bit late compared to the one given last month by pro-Ripple lawyer Fred Rispoli, who used the judge's statistics to come up with the possible release of the case's summary judgment.

Using the statistics related to the motion summary judgment of United States District Court for the Southern District of New York Judge Analisa Torres, the lawyer underlined that 60% of the federal judge's rulings came between 146 and 330 days, with the judgment announced in an average time of 249 days.

"60% of rulings between 146 and 330 days. Which comes out to 249 days from September 17, 2022: May 21, 2023 (nope!) 330 days from September 17, 2022: August 10, 2023 (?). Although it's frustrating, I may be getting the best birthday present of my entire life," the lawyer said, adding, "PS: Or the worst birthday present ever. One of those two."