Ripple CEO Garlinghouse Submits Dates When Top Execs Will Be Unavailable for The SEC Trial
Ripple CEO and Chairman Brad Garlinghouse have released dates the company's top executives will be unavailable for the SEC trial in the second quarter of 2024.The chairman conveyed the information in a letter the prominent lawyer James K. Filan shared.
Ripple Vs. SEC Trail Schedule in Q2 2024According to the letter, both Garlinghouse and Chris Larsen will be unavailable for the trial from April 1, 2024, to April 14, 2024.
#XRPCommunity #SECGov v. #Ripple #XRP Counsel for @bgarlinghouse and @chrislarsensf have informed Judge Torres the dates they will not be available for trial in the second quarter of 2024. pic.twitter.com/o7VwXR847b
- James K. Filan
(@FilanLaw) August 22, 2023
The legal battle between the US Securities and Exchange Commission (SEC) and San Francisco-based blockchain firm Ripples Labs hasn't ended.
A part of the case is scheduled for the second quarter of 2024. The trial is expected to prove the legal liability of Ripple CEO Garlinghouse and the firm's co-founder Larsen.
In its lawsuit against Ripple and its executives, the SEC alleged that the company's execs were aiding and abetting Ripple in distributing XRP as an unregistered security.Also, the US securities regulators accused the duo of recklessness in supporting Ripple in the approach it used to distribute XRP.
Following the court's order, the parties are given until December 4, 2023, to submit all pretrial filings and relevant exhibits. Also, the order demanded that they notify the court about possible dates they would be unavailable for the trial.
Besides the dates that Ripple's executives marked for their unavailability, they indicated that other days throughout Q2 2024 are good for them for the trial. Similarly, the US securities regulator is expected to submit its unavailability dates. However, the SEC may not indicate dates it will be unavailable for the trial.
In its interlocutory appeal, the SEC requested that the court place the scheduled trial on hold due to its appeal plans. However, Ripple executives Garlinghouse and Larsen opposed the regulator's demand to stay the trial proceedings against them.
According to their filing, Ripple execs' lawyers pointed out the default statutory rule for an interlocutory appeal. Usually, an interlocutory appeal should not stay proceeding in the district court.
Ripple CEO Fortifies Their Legal TeamRipple CEO Garlinghouse has taken significant steps to boost their legal team in preparation for the trial.The letters shared by Filan revealed that two prominent lawyers from Cleary Gottlieb Steen and Hamilton LLP opted to join Garlinghouse's legal representatives.
Attorney Caleb J. Robertson requested an appearance as Garlinghouse's counsel in the SEC lawsuitthrough an official filing.
#XRPCommunity #SECGov v. #Ripple #XRP Attorney Caleb J. Robertson has filed an appearance on behalf of @bgarlinghouse. https://t.co/EnqeEun3bN pic.twitter.com/VLszkcSpx3
- James K. Filan
Attorney Michael A. Schulman also filed a motion to represent the Ripple CEO as Pro Hac Vice.The two lawyers, Robertson and Schulman, are expected to defend the Ripple CEO during the trial in Q2 2024.
Pro Hac Vice is a legal team that highlights requests from lawyers to practice in a jurisdiction where they have no license.
#XRPCommunity #SECGov v. #Ripple #XRP Attorney Michael A. Schulman has filed a Motion to Appear Pro Hac Vice on behalf of @bgarlinghouse https://t.co/1znd6I81dLhttps://t.co/fzLWgo5pQ2
- James K. Filan
The post Ripple CEO Garlinghouse Submits Dates When Top Execs Will Be Unavailable for The SEC Trial appeared first on The Tech Report.