Judge Analisa Torres has set remedies discovery and briefing schedule in the U.S. SEC v. Ripple Labs lawsuit. The move comes after both Ripple and the U.S. Securities and Exchange Commission (SEC) agreed last week to proceed with remedies discovery and briefing regarding institutional sales and other pending claims.
According to a court filing late November 13, Judge Analisa Torres has set a schedule for remedies-related discovery and briefing. After carefully reviewing Ripple and the U.S. Securities and Exchange Commission’s (SEC) letter dated November 9, the judge has signed an order on the briefing for remedies discovery and briefing regarding institutional sales and other pending claims.
The parties are required to complete remedies-related discovery by February 12, 2024. The plaintiff SEC to file its brief for Section 5 violations with respect to its institutional sales of XRP and other parts by March 13. Then by April 12, defendant Ripple is required to file its opposition. The plaintiff will be given a week to file its reply to Ripple by April 29.
Pro-XRP lawyer Bill Morgan said the SEC brief on remedies is due just 9 days before the Wave of Innovation 2024 XRP Gold Coast Conference. John Deaton, an attorney representing 75K XRP holders, is attending the conference as a keynote speaker. He said the community can expect lots of insights on the XRP lawsuit, especially remedies discovery unless the parties decide to settle before the schedule.
Lawyer Jeremy Hogan asserts a final judgment can come in July as the final briefs in April. He also noted that the only defendant is Ripple after the SEC dropped charges against Ripple executives Brad Garlinghouse and Chris Larsen.
XRP price is currently trading at $0.66, after the fake BlackRock XRP Trust filing that pumped XRP price by 15% within an hour. The 24-hour low and high are $0.645 and $0.740, respectively.
Furthermore, the trading volume has increased by 250% in the last 24 hours, indicating a rise in interest in traders for fueling an upside move.