New York, NY Monday, February 26, 2024 – Popular XRP community member Ashley Prosper addressed misconceptions surrounding the ongoing lawsuit between the SEC and Ripple in a recent statement.
Prosper clarified that the public will not see Ripple’s financial records until March 13, when the SEC files its remedies brief, despite the February 20 deadline for remedies-related discovery. This contradicts earlier speculation that the records would be immediately available. 1
”To clear up some misconceptions,. Tomorrow is the extended deadline in the #Ripple v #SEC case for remedies-related discovery,” he said in his X post.
“We will not see anything Ripple has handed over until the SEC files its brief on March 13, and don’t expect much on that front. Also, Judge Torres’s final decision on this case is NOT due in April. Final submissions for remedies are due April 29th, after which Judge Torres will make her decision. I’m thinking July/August for that, but she could take it until next year if she wants to. The only way this case ends by April is with a settlement.”
He also dismissed rumors of a final judgment by April, citing the remedies schedule order. While the final submission of the remedies brief is due by April 29, Prosper expects a judgment between July and August. However, he acknowledged the possibility of a delay until next year.
Prosper emphasized that a settlement in April is only possible through an agreement, which the SEC has not indicated a willingness to pursue. Legal experts speculate that the SEC seeks to set a precedent for other crypto projects through this case.
Despite some victories for Ripple, including non-security status for XRP and dismissal of claims against executives, the court granted the SEC’s request for Ripple’s financial records.
These will include audited statements from 2022–2023, contracts governing institutional XRP sales, and revenue generated from such sales since the lawsuit’s inception in 2020.
The SEC considers these records crucial for determining potential injunctions on Ripple’s future institutional XRP sales.
- XRP Community Leader: https://tinyurl.com/56tauyx2[↩]
