As anticipated, US District Court Judge Analisa Torres has approved the petitions of Ripple partners to submit amicus papers in favor of the defendant’s motion for summary judgment.
All Briefs Will Submittable
Judge Analisa Torres allowed petitions from all 16 Ripple partners and 2 SEC backers to file amicus briefs in a ruling dated November 14th, which James K. Filan posted on Twitter.
The list of organizations also includes Coinbase, Blockchain Association, Deaton, CCI, I-Remit, TapJets, I-Can, Chamber of Digital Commerce, Spend-the-Bits, Valhil Capital, VeriDao, Cryptilian Payment System, New Sports Economy Institute, Accredify, Reaper Financial, and Paradigm Operations.
Also supporting Ripple are New Sports Economy Institute and Accredify.
The decision formally sets November 18 as the date by which each of the mentioned companies must submit their individual amicus briefs.
Only Coinbase Has Submitted So Far
It is noteworthy that, as of October 31st, Coinbase appears to be the only corporation to have actually submitted a brief to the court.
The amicus briefs are a valid source of support for Ripple. In a previous tweet, Ripple’s general counsel Stuart Alderoty said that the organizations had submitted amicus brief requests to demonstrate how inaccurate the SEC’s claims are. The purpose of the papers is to demonstrate to the court the harm that the SEC case has done to the parties’ interests.
Ripple Settlement Soon?
In addition, there has recently been a market buzz regarding a settlement between the SEC and Ripple. The rumor gained momentum after Fox News stated that the parties might reach a settlement at the hearing on November 15.
Fox reporter Eleanor Terrett said, “I know you’re expecting a settlement tomorrow in the lawsuit between the Securities and Exchange Commission and Ripple”.
Later, senior Fox Business contributor Charles Gasparino acknowledged that the rumors were untrue, and Ripple later corroborated this. Additionally, Ripple’s native currency, XRP, is currently up 8.6% on the day and trading at $0.37 as of this writing.
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