Judge Torres Sets Potential Jury Trial Date for Ripple Case in Q2 2024
Ripple SEC Lawsuit
Key Points:
- Judge Analisa Torres’s statement on Wednesday stated that a jury trial for the case would be sought to be scheduled in the second calendar quarter of 2024.
- By Wednesday, August 23, 2023, Judge Torres has demanded that the parties, Ripple, and the US SEC submit trial blackout dates.
Recent developments in the Ripple litigation include Judge Analisa Torres’s statement on Wednesday that a jury trial for the case would be sought to be scheduled in the second calendar quarter of 2024.
By Wednesday, August 23, 2023, Judge Torres has demanded that the parties, Ripple, and the US SEC submit trial blackout dates. Significantly, this follows a judgement on July 13, 2023, which found that the retail sale of XRP tokens does not constitute securities. According to an order issued by Judge Torres on Wednesday, the Court is seeking to set a jury trial for the second quarter of 2024.
Pretrial Scheduling Order
An appeal request from the US SEC has been anticipated by the cryptocurrency market, thus this might be a huge event. According to the pretrial scheduling order, the status quo of the Summary Judgment may be maintained until the second quarter of 2024, provided the agency does not file an interlocutory appeal before then.
In addition, by December 4, 2023, both parties must turn over all of their pretrial materials and are free to make any motions in brief before the start of the trial. The Court has said that a final pretrial conference date will be set after the submissions and before the trial date is set.
The price of XRP is has reacted negatively. At the time of writing XRP is trading at $0.6523 and is down 5% in the last 24 hours as per data from CoinGecko.
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