<a href="https://news.todayq.com/legal-victory-for-ripple-as-judge-denies-secs-motion-to-appeal/" rel="noopener noreferrer nofollow">Ripple’s legal battle </a>against the US Securities and Exchange Commission (SEC) is going to be a prolonged one, stretching up to a year, according to pro-XRP lawyer John Deaton. In a post on social media platform X (formerly Twitter), Deaton hinted that a settlement may be considered, but only if <a href="https://news.todayq.com/coinbase-makes-final-case-for-dismissal-of-secs-lawsuit-accuses-regulator-of-overreaching-its-authority/" rel="noopener noreferrer nofollow">Coinbase’s motion</a> to dismiss the SEC’s lawsuit against it is granted. “No serious” settlement talks between Ripple and SEC&nbsp; 
Deaton also opened up about how Ripple, its senior executives, and the SEC have failed to engage in settlement discussions thus far. “I do not believe there has been a single serious conversation regarding a settlement between Ripple, Brad Garlinghouse, Chris Larsen, and the SEC. The SEC is pissed and embarrassed and wants $770M worth of flesh,” he tweeted.
As I said on
The attorney explained that the penalty phase is complex and time-consuming, comparing it to a second legal case, which requires depositions, document requests, emails, financial records, contracts, and on-demand liquidity (ODL) transactions. While Ripple is likely to be slapped with a$770 million fine, Deaton says the crypto company could attempt to lower the bill by excluding ODL transactions and slashing other expenses. 
Predicting a timeline for a judgment in the case, Deaton said he doesn’t expect US District Judge Analisa Torres – who is overseeing the SEC vs. Ripple case — to deliver a final verdict “until late summer, at the earliest.” “It could literally take a full year before a final appeal is filed in the case.” Ripple’s fate tied to SEC’s lawsuit against Coinbase 
Furthermore, Deaton suggested that the outcome of Ripple’s case largely depends on the SEC’s<a href="https://news.todayq.com/us-sec-slams-a-lawsuit-on-coinbase-months-after-the-wells-notice/" rel="noopener noreferrer nofollow"> lawsuit against Coinbase</a>. Deaton says if the federal judge tosses out the SEC’s lawsuit against Coinbase, the regulator may change its attitude towards cryptocurrencies and potentially reach a settlement with Ripple.
On the other hand, if Coinbase’s motion is rejected, Deaton does not expect a settlement to occur. With the oral argument for Coinbase’s motion set to take place in January 2024, a verdict is expected within 60-120 days.&nbsp;Ripple will likely spit out millions of dollars in legal fees during this time as it attempts to bring down the $770 figure. SEC surrenders in the legal battle 
Last week, the SEC <a href="https://news.todayq.com/sec-makes-u-turn-on-charges-against-ripple-execs-dismisses-lawsuit/" rel="noopener noreferrer nofollow">dropped</a> the charges against Ripple executives—though the crypto company itself is not out of the woods yet.&nbsp; Judge Torres had ruled in July that Ripple’s sale of XRP tokens to institutional investors violated securities law.
Legal experts opine the SEC has a <a href="https://news.todayq.com/legal-experts-predict-secs-ripple-battle-success-chances-3-to-14-2/" rel="noopener noreferrer nofollow">3-14.2% chance</a> of winning the case against Ripple. In other news related to Ripple, the company has posted a new job advertisement,prompting speculation that Ripple is planning to launch an initial public offering (IPO). 
© Todayq News

Pro-XRP lawyer Deaton predicts the SEC-Ripple legal battle will last up to a year

Todayq News

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