One of the attorneys from Chris Larsen’s team has withdrawn from the legal case against the SEC of Ripple
According to a famous lawyer who closely follows the lawsuit between Ripple and the U.S. The Securities and Exchange Commission (SEC), James K. Filan, has announced that one of the lawyers defending former Ripple CEO Chris Larsen in the SEC lawsuit against Ripple Labs is withdrawing.
#XRPCommunity #SECGov v. #Ripple #XRP Attorney Robin A. Linsenmayer has withdrawn as one of the attorneys representing Chris Larsen because she is leaving the employ of Paul, Weiss. pic.twitter.com/ZLNYxLrq85
— James K. Filan ???? (@FilanLaw) January 18, 2022
One of Ripple Chris Larsen’s attorneys withdraws from defense
Attorney Robin A. Linsenmayer seeks formal permission to withdraw from a legal case. She and several other attorneys build defenses for Ripple’s co-founder and former executive, Chris Larsen.
The reasoning for her resignation, Linsenmayer announced that she would be leaving the law firm, Paul, Weiss was hired by Ripple Labs to defend the firm, and Larsen, along with CEO Bradley Garlinghouse in court against the securities agency America.
In documents filed with the judge, Linsenmayer writes that other attorneys – Martin Flumenbaum, Michael Gertzman, Meredith Dearborn, Kristina Bunting, Justin Ward, and Sarah J. Prostko, who work for the same law firm – will continue to defend cure Chris Larsen.
On the last day of 2021, attorney Jeremy Hogan said he expects the Ripple-SEC case to end this year, up to April. He believes extending the case to the summer is the worst-case scenario.
Previously, Ripple director Brad Garlinghouse also publicly assumed that he hoped the lawsuit would be closed at some point in 2022. According to him, Ripple Labs has made significant progress despite the process. The trial was relatively slow.
The SEC initiated the legal suit against Ripple and two of its top-ranking executives, claiming that they had earned over $1.3 billion by selling XRP to institutional investors – the asset that the agency alleges is unregistered security, not a cryptocurrency.
After the lawsuit started, XRP trading was suspended on many crypto exchanges, such as Bittrex, Bitstamp, Binance US, Coinbase, etc., causing the XRP price to plummet. Despite the hopes, however, some in the XRP community believe that Robin A. Linsenmayer’s departure from the Ripple affair now is not a good sign when it is believed to be only a few months away.
To those who state it is—this is not significant. Robin is leaving Paul Weiss, who represent Chris. If settlement/victory were near, her employer would have asked her to stick around another month, but it’s likely many months away and so she served her statutory notice.
— Maverick 3.0 (@web3_maverick) January 19, 2022
Twitter user @web3_maverick assumed that employers would ask Linsenmayer to stay a little longer if successful closing or resolution occurs in April or so. However, since she has decided to leave now, a settlement between Ripple and the regulator may not happen as soon as Brad Garlinghouse and Jeremy Hogan expect.
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