Ripple v. the SEC is unlikely to see a jury trial, according to a top crypto-lawyer. Jeremy Hogan, a follower of the SEC’s case against Ripple since the regulator first sent the blockchain firm a legal notice, expressed these views in his latest video update.
“I’m confident we’re looking at a summary judgment here,” he said, adding that the case against individual defendants like Brad Garlinghouse might be tried under different circumstances.
In the said update, Hogan based his analysis on a major court filing recently made available, one that also disclosed major timeframes and deadlines for various events pertaining to the case.
The court filing stated that all fact discovery should be completed no later than 2 July 2021. According to Hogan, this is a “very tight timeframe” as fact discovery includes requests for the production of documents, written questions, and depositions.
Depositions, in particular, can be particularly complicated and time-consuming, Hogan went on to say, arguing that a single deposition can usually go on for at least a day or two. As things currently stand, there are ten depositions set to take place between today and the 2nd of July.
It should also be noted that the court order also deems that “all expert discovery shall be completed no later than 16 August 2021.” Essentially, this means that motions for summary judgment would soon follow, leading to a judge making a final ruling to determine whether or not XRP is a security.
Finally, Hogan also went over a joint letter filed by the parties before a United States District Judge yesterday. According to the said letter, there is currently no prospect of settlement between the two parties.