A crypto influencer caused confusion around the lawsuit between Ripple and the US Securities and Exchange Commission (SEC). Crypto Eri distributed an outdated calendar with a ‘final pretrial conference’ scheduled for April 16. However, this meeting, in which the parties and the judge discuss possible solutions to settle the case, is canceled.
Stuart Alderoty, Ripple’s Chief Legal Officer (CLO), has provided clarity on this matter. He confirmed that Eri’s message was incorrect and that there will be no “final pretrial conference” as charges against CEO Brad Garlinghouse and co-founder Chris Larsen have been dropped.
What is a final pretrial conference?
A Final Pretrial Conference is an important meeting that takes place just before the start of the trial. During this conference, the parties, their attorneys, and the judge come together to discuss the issues that will be addressed at trial.
They attempt to reach any final settlements and draw up a detailed plan for how the lawsuit will proceed. The purpose of this conference is to increase the efficiency of the legal process and possibly even reach a settlement or other resolution before the case is fully submitted to court.
Important deadlines in the Ripple lawsuit
Stuart Alderoty, Ripple’s Chief Legal Officer, has made it clear what we can expect in the coming period in the legal battle against the SEC. A pivotal moment will come on April 22, when Ripple will officially respond to a demand from the SEC.
In this response, the company will defend itself against the $2 billion fine demanded by the government agency. The SEC then has until May 6 to respond.
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Source: https://newsbit.nl/ripple-clo-dit-zijn-belangrijke-deadlines-in-de-sec-vs-ripple-rechtszaak/
