Ripple Vs SEC: Attorney Deaton Reveals How Summary Ruling Will Be Announced

The Ripple Vs SEC lawsuit is coming to an end, and everyone is eagerly waiting for Judge Analisa Torres to make her decision on the summary judgment. This case is significant because it will help establish clearer regulations for the crypto industry.

In a recent development, Attorney John Deaton, who supports XRP, shared some information about how the judge will issue the summary judgment in the SEC versus Ripple case.

Judge Torres to Release Summary Judgment Decision Publicly

Attorney Deaton has stated that Judge Torres will not keep her summary judgment decision exclusive to the SEC and Ripple. Instead, the pro-XRP lawyer mentioned that the judge will make the ruling available to the public in the court’s official records. Deaton emphasized that the judgment will be released in a similar manner as previous rulings in the case, such as Judge Torres’ decision on the Daubert/expert motion.

He stated, “A lot of people want to know how this [summary judgment] decision is going to be announced. Is she going to call Ripple and the SEC and tell them? No. Absolutely not,”

“We are going to get the filings in the public docket just like we did [get] the Hinman’s emails and other rulings,” said Deaton. 

Ensuring Transparency and Confidentiality in Summary Judgment

Attorney Deaton also mentioned the possibility that the parties involved in the case might receive the ruling through emails a few minutes before it becomes public knowledge. He explained that the U.S. District Court for the Southern District of New York, which handles many financial-related cases, is aware of how crucial information can be exploited for insider trading.

Given the potential risk of insider trading using sensitive rulings like the summary judgment in the SEC versus Ripple lawsuit, the court is taking measures to ensure the final verdict remains strictly confidential. Consequently, Deaton confidently stated that no one will have access to any preliminary information about the ruling’s content before it is officially filed and made available to the public.

Losing Party Shall Appeal Before Supreme Court 

In a recent broadcast, attorney Deaton responded to various inquiries regarding the final verdict of the case. Notably, he speculated that if any party were to lose in the summary judgment, they might choose to appeal the ruling, possibly leading the case all the way to the Supreme Court.