Ex-SEC Director Says Ripple Lawsuit Will End “Within Days”

Former SEC director predicts that the final verdict for the SEC vs. Ripple case will come within days.

Former SEC regional director Marc Fagel has speculated that the multi-year legal battle between the commission and Ripple Labs Inc. will soon come to an end. 

Fagel took to Twitter to disclose that U.S. District Judge Analisa Torres, the presiding judge of the lawsuit, will issue a summary judgment decision within days.

XRP Influencer: Delay Might Prompt Different Arguments

It bears mentioning that Fagel made the remark in response to a Twitter thread by Mr. Huber, a pseudonymous crypto sleuth and top XRP community influencer.

Mr. Huber commented on the delay regarding the final verdict of the SEC vs. Ripple lawsuit. He noted that further delay in Judge Torres’ summary judgment decision could strengthen the argument that public reactions influenced her ruling.

To clarify once again: Every day that passes between the disclosure of the Hinman emails and the classification of them by a court is a +1 for everyone’s fair notice defense. Something that may make sense to you, but would be a disservice to the credibility of the legislative,…

— Mr. Huber🔥🦅🔥 (@Leerzeit) June 15, 2023

The XRP community member added that further delay in the ruling could also cause more confusion, which the parties may use as an argument.

“To clarify once again: Every day that passes between the disclosure of the Hinman emails and the classification of them by a court is a +1 for everyone’s fair notice defense,” Mr. Huber added.

Fagel Reacts

Mr. Huber called on several attorneys, including John Deaton, Jeremy Hogan and Fagel, to share their opinions. Reacting to the thread, Fagel emphasized his penchant for avoiding speculations but stressed that he expects the presiding judge to issue her summary judgment decision within days.

“I try to avoid speculating, but my guess is a ruling is coming within days,” said Fagel.

1/ 1) I try to avoid speculating, but my guess is a ruling is coming within days. 2) Even if I’m wrong, there’s no basis to think the delay is due to anything beyond the complexity of the case. 3) I don’t understand the “greater confusion” point–Ripple is substantially different

— Marc Fagel (@Marc_Fagel) June 15, 2023

He asserted that even though the ruling does not come in days, there is no basis to suggest that the delay is caused by any ulterior motive other than the complexity of the lawsuit.

Furthermore, Fagel pointed out that he does not understand the “greater confusion” mentioned by Mr. Huber in his statement. Fagel asserted that Ripple Labs’ case is “substantially different” from other SEC-related legal battles.

Fagel Frequently Comments on SEC vs. Ripple Lawsuit 

Fagel has been vocal about the SEC vs. Ripple lawsuit. Sometimes, he engages in heated debates with top pro-XRP lawyers like John Deaton, Bill Morgan, and Jeremy Hogan.

On June 14, 2023, Fagel joined attorneys Deaton and Hogan to comment on the recently-released Hinman’s emails during a CryptoLaw live cast.

As reported yesterday, Fagel asserted that Hinman’s emails contain no bombshell, adding that the docs will not significantly impact the SEC vs. Ripple lawsuit.

“There’s no real bombshell here on the merits of the case. I think that’s most important,” said Fagel, “There’s nothing in here that tells you that there’s a problem for the SEC’s view of whether or not Ripple violated the law through an offering.”

It is interesting to note that Hogan, who was also a guest on the show, also expressed similar views.