The post Pro-Ripple lawyer predicts prolonged legal battle, hints at settlement factors appeared on BitcoinEthereumNews.com.

Pro-Ripple lawyer John Deaton said he expects a lengthy legal process in the United States Securities Exchange Commission (SEC) vs. Ripple case — possibly lasting a year. Deaton suggested that a settlement may only be considered if Coinbase’s motion to dismiss the SEC’s case against it is successful.  In a detailed post on X (formerly Twitter), Deaton discussed the lack of serious settlement talks between Ripple, its executives and the SEC. He mentioned the SEC’s desire for a $770 million penalty and explained the complexities of the penalty phase involving various legal processes. He said: “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 explained that the penalty phase is a detailed process, akin to a second legal case, involving depositions, document requests, emails, financial records, contracts and on-demand liquidity (ODL) transactions. Deaton suggests that Ripple might aim to reduce the $770 million penalty by excluding ODL transactions and cutting down on additional expenses. He points to the LBRY case, where the SEC initially pursued $23 million but, after eight months of litigation, settled on a $130,000 fine. As I said on @CryptoLawUS TV yesterday with @attorneyjeremy1 and Thien-Vu, I do not believe there has been a single serious conversation regarding settlement between @Ripple @bgarlinghouse @chrislarsensf and the @SECGov. The SEC is pissed and embarrassed and wants $770M worth… https://t.co/kcXvsrPgaa — John E Deaton (@JohnEDeaton1) October 25, 2023 Creating a timeframe, Deaton stated:  “I don’t expect a final judgment, issued by Judge Torres, until late summer, at the earliest. It literally could take a full year before an appeal is filed in this case.“  Deaton connected Ripple’s case outcome with the SEC’s lawsuit against Coinbase, stating that…

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Filed under: News - @ October 27, 2023 4:18 am