A new document revealed by attorney Jeremy Hogan, one of the partners at the Hogan-Hogan law firm, shows that the SEC and Ripple have agreed to a 1-hour settlement discussion two weeks following the close of fact discovery.
If the settlement talks yield positive results, the case could be settled within the next two months, as revealed by Hogan. As of this writing, all the relevant documents requested by judge Sarah Netburn have been given to her, particularly email conversation regarding Hinman’s 2018 speech and Estrabrook’s notes.
Thus, Hogan said, “the judge is fully aware of the contents of these emails. I assume that the agency is the problem right now, and that’s a big difference. In cases like this, miracles can happen when there is a good mediator.”
Ripple Could Win This Case Eventually
Even though both parties held a settlement talk a few months ago, they couldn’t reach any positive conclusion. However, this next settlement talk could favor the blockchain firm as there is already overwhelming evidence against the SEC.
Yes, a one hour settlement discussion happened a couple of months ago.
It didn't settle which means that the next most likely settlement time would be at mediation (see arrow below) which will be hosted by the one and only JUDGE NETBURN who has seen ALL the documents in camera. pic.twitter.com/yDARTALdaf
— Jeremy Hogan (@attorneyjeremy1) March 1, 2022
According to Attorney Hogan via Twitter, judge Netburn will host the following settlement talks. Based on the evidence in front of the judge, she can convince the agency to enter the meditation program and discuss settlement details.
Ending The Hurt For Ripple Investors
The legal dispute between both parties, which began two years ago, remains a hurt debate among the crypto ecosystem. Almost immediately after the case started, many crypto exchanges removed XRP (Ripple’s native token) from the trading pairs on their platform.
Thus, XRP price dipped massively, hurting investors and still hurting them as the price hasn’t risen like other coins since that time. Some members of the crypto community alleged that the SEC used various means to delay and drag the case for nearly two years even though there were reasons the case could have been concluded some months after it began.
A couple of days back, Ripple CEO also accused the financial watchdog of employing another delay tactic when the SEC refused to divulge Estrabrook’s notes. If these new settlement talks yield positive results, many exchanges will re-list the XRP token on their trading platforms, further its adoption, and boost its price.
Commenting on the developments in this case, ex-SEC lawyer, Joseph Hall, also agreed with attorney Hogan’s views. Hall further opined that he doesn’t understand the SEC’s decision to bring up the case or what it desires to prove through this lawsuit. He also said, “the SEC could lose all their regulatory merits if this case doesn’t favor them in the long run.”
Hall’s viewpoints got the XRP twitter community excited as many of them lauded his honest comments regarding the case. As of the start of this case, the SEC accused Ripple of selling its XRP tokens without a license. Mid-last month, judge Netburn requested that Ripple reveal the legal advice it received before selling its XRP tokens. One of Ripple’s lawyers, James A. Filan, remarked that these unsealed documents also favored Ripple.