Amidst the anticipation surrounding the Ripple-SEC case, a tweet from an XRP community member raised concerns about the SEC dropping its lawsuits before a summary judgment. Such a move could undermine the authority of the presiding judge and raise questions about the influence of public reactions on the case’s outcome. Additionally, it may create further confusion and give rise to speculation regarding intentional encouragement of greater uncertainty.
Expert Opinion on Timing of the Verdict
Responding to these concerns, Marc Fagel attempted to provide some clarity without engaging in speculation. He acknowledged the possibility of a ruling within days but cautioned that any delay in the case was likely due to its complexity rather than any ulterior motives. Fagel’s insights provide valuable context and suggest that the lengthy legal battle may finally be reaching its conclusion.
Ripple’s Uniqueness and Implications for the Verdict
Fagel also made a point to differentiate Ripple and its case from recent SEC enforcement actions. He clarified that the judge’s ruling is unlikely to directly address the issue of secondary market trading. Instead, the focus may primarily be on the liability of the individual defendants, potentially referencing the controversial Hinman emails. This distinction highlights the intricate nature of the case and underscores the specific aspects that the court is expected to address in its verdict.
Legal Representative’s Perspective
John Deaton, an attorney and legal representative for XRP holders, also expressed his views on the matter. Deaton believes that charging individual executives with aiding and abetting based on a recklessness standard was a significant mistake. He expressed confidence that no reasonable jury would find any executives reckless, thereby challenging the SEC’s approach in the case. Deaton’s perspective adds another layer to the ongoing debate surrounding the Ripple-SEC legal battle.