Ripple Case Update: Judge Sets Public Zoom Hearing on Summary Judgment & Testimony

In the latest update in the class action lawsuit against Ripple Labs, Judge has set a public hearing on multiple motions to exclude testimonies of witnesses and motion for summary judgment. All counsel, members of the public, and media can attend the hearing on Zoom on May 30.

Public Zoom Hearing in Ripple Lawsuit

In re Ripple Labs Inc, Zakinov vs Ripple is set for a public hearing on May 30, as per a court’s videoconferencing schedule. This will be a key hearing that could have implications for SEC v. Ripple, as earlier stated by XRP lawyers including Fred Rispoli.

The judge has set a Zoom hearing the public can attend. The court will likely make decisions on multiple motions to exclude testimonies, as well as a motion for summary judgment. Plaintiff alleged that Ripple violated federal and California state securities laws by selling XRP as unregistered securities and unfair business practices. The lawsuit was filed two years before the SEC v Ripple Labs lawsuit.

The public can watch proceedings on Motion Hearing re [318] Motion to Exclude Testimony of Alan Schwartz, [323] Motion to Exclude Testimony of Professor Joel Seligman, [325] Motion to Exclude Testimony of S.P. Kothari and Laurentius Maraius, [326] Motion to Exclude Testimony of Steven P. Feinstein, [327] Motion to Exclude Testimony of Jeremy Clark, [328] Motion to Exclude Testimony of Saifedean Ammous. Judge Phyllis J. Hamilton also rule on the Motion for Summary Judgment.

XRP Lawyer Comments on Ripple Hearing

Pro-XRP lawyer Bill Morgan said a motion refers to excluding the testimony of Alan Schwartz, executive chairman of Guggenheim Partners. Schwartz was permitted by Judge Analisa Torres to give evidence in the Ripple vs SEC lawsuit.

Moreover, the summary judgment in the Zakinov vs Ripple is crucial for the Ripple vs SEC lawsuit as the SEC could leverage it in multiple lawsuits such as Binance and Coinbase. Experts believe the regulator will appeal past decisions by Judge Torres after the remedies phase.

XRP Price Performance Amid Key Dates

Ripple CEO Brad Garlinghouse sparked speculations with his recent comments on the SEC lawsuit, crypto market predictions, crypto non-partisanship, XRP victory, and potential upcoming Black Swan event. Garlinghouse believes the SEC will lose in the long run despite appeals and other arguments.

XRP price trades at $0.51, down nearly 1% in the last 24 hours and 5% in a week. The 24-hour low and high are $0.5075 and $0.5179, with trading volume rising more than 70% in the past 24 hours. Analysts believe the price will continue to trade at current levels for this year.

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