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Garlinghouse gives a new timeline for the final resolution of the SEC lawsuit.
Ripple CEO Brad Garlinghouse has shared new predictions for the final resolution of the company’s lawsuit against the United States Securities and Exchange Commission.
At the Redefine Tomorrow 2023 summit, Garlinghouse speculated in a fireside chat that the lawsuit would be resolved in weeks.
“In terms of where things stand today, I’ll try not to get too much into the legal wigs. You’re right that I feel very confident that we’ll see a decision from the court this year. In fact, I’ll guess in weeks, not months,” Garlinghouse was quoted as saying.
BREAKING #XRPCommunity : @bgarlinghouse expects a court case resolution in weeks and not months , following the recent court news regarding the Hinman emails!
PS: feels like the interviewer is an XRP holder 🤣 pic.twitter.com/OT303FoNZI
— XRPnewt🏴☠️ (@XRPnewt) May 25, 2023
Judge Torres Denies SEC’s Motion to Seal
Garlinghouse’s latest prediction about the end date of the SEC vs. Ripple case comes barely a week after Judge Torres denied the agency’s motion to seal William Hinman’s docs.
The documents relate to internal deliberations at the SEC regarding the controversial 2018 speech by Hinman, where he declared Bitcoin and Ethereum as non-securities.
Commenting on the development, Garlinghouse said Judge Torres’ decision on Hinman’s documents was a huge win for transparency.
As reported earlier, Ripple’s CEO said the company would ensure that redacted versions of Hinman’s documents are made public. It bears mentioning that Hinman’s documents are expected to be made public on June 13, 2023.
Garlinghouse Previous Predictions on SEC vs. Ripple End Date
Meanwhile, this is not the first time Garlinghouse has predicted an end date for the SEC’s legal battle. Last year, the outspoken Ripple CEO speculated that the lawsuit would be resolved in the first half of 2023.
In a similar development, Garlinghouse predicted that Judge Analisa Torres would make a summary judgment decision before the end of Q3 2023. According to Garlinghouse, the case has been fully briefed, and the judge has all the necessary information to issue a final verdict.
It is unclear why Garlinghouse believes the lawsuit will be resolved in weeks and not months. There is speculation that the decision to unseal Hinman’s docs might prompt a settlement between the parties.
The joint request filed by the parties for a one-week extension to file public, redacted versions of summary judgment further stoked the flames of a possible settlement in the case. Notably, Ripple has reiterated that it could consider a settlement with the SEC if the commission recognizes XRP as a non-security.