Ripple Faces April 16 Deadline For Appellate Brief Or Settlement

Attorney Fred Rispoli provided insights on the upcoming April 16 deadline in the SEC v. Ripple litigation. In response to a query about the SEC's inaction and the impending deadline, Rispoli highlighted that April 16 is the due date for Ripple’s appellate brief. He outlined two potential scenarios based on the current situation.

Rispoli indicated that something significant is expected to occur on or before April 16. He noted that Ripple cannot request an extension for this filing. According to his analysis, there are two possible outcomes: either Ripple files the appellate brief, which he estimated has a ten percent likelihood, or there will be a notice of settlement or withdrawal of the appeal, which he assessed as having a ninety percent likelihood. His prediction suggests that a resolution would be reached without further appellate litigation, although no official action has yet been confirmed.

Rispoli clarified the nature of the alleged agreement between Ripple and the SEC. He explained that while Ripple executives had made public statements about a potential resolution, there had been no official public communication from the SEC. He suggested that the agreement likely involved non-public, written assurances from the SEC, but emphasized that no official legal filing had been made to support the public announcement.

Rispoli also pointed out that the SEC has not issued any public confirmation of the alleged resolution. He noted that this is consistent with the SEC’s standard practice of remaining silent until official filings are made. As of now, no such filing exists in the appellate docket, meaning the appellate process technically remains active until a notice of settlement or withdrawal is publicly recorded by the court.

Speculation has arisen regarding the timing of the SEC's actions, with some observers suggesting that political or public relations considerations might be influencing the delay. While Rispoli did not directly address this speculation, the dialogue reflects a keen interest in the procedural details of the case and the timeline of events surrounding the appellate process.

Rispoli’s assessment, which strongly favors a conclusion to the appeal process in either a settlement or withdrawal, is based on the absence of SEC filings and the impending filing deadline for Ripple. As of the time of the tweet, no formal withdrawal or settlement filing had been submitted to the court. All attention is now focused on April 16, the date by which Ripple is either required to submit its appellate brief or otherwise make public through legal channels that the matter has been resolved outside of court.