Due to resource pressures, only a small percentage of cases ever reach trial so SEC may try to settle with Ripple

Comments by Jeremy Hogan, a lawyer who closely follows the Ripple lawsuit, has just said that the SEC will opt to settle the Ripple lawsuit before reaching trial.

Due to resource pressures, only a small percentage of cases ever reach trial so SEC may try to settle with Ripple

At the moment, Ripple’s lawsuit with the Securities and Exchange Commission (SEC) is still in the pre-trial phase. The aim is for each side to investigate the truth of the case by gathering evidence from the opposing party and others through discovery devices.

Hogan believes that due to pressure on resources, only a small percentage of cases go to trial. This suggests that the SEC may try to settle with Ripple. Then again, consider what’s at stake and how the discovery phase has favored the Defendant on balance, it should come as no surprise that the Ripple CEO wants this case to set a legal precedent.

Accordingly, while not directly involved in the Ripple lawsuit, Hogan offered his expert opinion on the subtleties of the SEC’s allegations that Ripple sold unregistered securities over a period of 8 years.

Yesterday, Hogan made the announcement that:

“Less than 10% of civil and criminal cases ever reach trial. This is because the U.S. legal system is unable to handle a higher throughput of cases. Judges aware of this fact tend to pressure lawyers to settle.”

Accordingly, Hogan also tweeted the following:

However, Ripple still wants the case to go to trial. When news of the lawsuit broke in late December, CEO Brad Garlinghouse called the action an attack on the entire crypto industry.

Garlinghouse, along with Ripple president Chris Larsen, has chosen to settle the case. But with the power of faith, he denied this to prove his case and pave the way for the rest of the crypto industry.

Garlinghouse stated:

“Chris and I had the option to settle separately. We could do that, and it would all be behind us. NOT happening. That’s how confident Chris and I are that we are right. We will aggressively fight – and prove our case – through this case we will get clear rules of the road for the industry here in the U.S.”

Throughout this process, oddities on the part of the SEC have emerged, including disregard of XRP investors, failure to act sooner, and possible conflicts of interest from former SEC leaders.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like