Ripple’s CEO and Chairman submit dates they will be unavailable for the SEC trial in Q2 2024.
Top executives of Ripple Labs have chosen the dates they will not be available for the upcoming SEC trial. In a letter shared by seasoned lawyer James K. Filan, Ripple execs- Brad Garlinghouse and Chris Larsen- informed the court that they will not be available for trial from April 1, 2024, through April 14, 2024.
#XRPCommunity #SECGov v. #Ripple #XRP Counsel for @bgarlinghouse and @chrislarsensf have informed Judge Torres the dates they will not be available for trial in the second quarter of 2024. pic.twitter.com/o7VwXR847b
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) August 22, 2023
The parties made the submission in response to the court’s directive, which requires the parties to notify the court about dates they will not be available for trial in the second quarter of 2024.
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Aside from the dates mentioned above, Ripple’s execs have indicated they will be available for the court proceeding throughout Q2 2024.
Upcoming Trial in SEC v. Ripple
It is worth noting that a part of the SEC v. Ripple case is expected to go to trial in Q2 2024. The trial will determine the legal liability of Garlinghouse (Ripple CEO) and Larsen (the company’s co-founder).
Recall that the SEC accused the execs of aiding and abetting Ripple in distributing XRP as an unregistered security. The SEC claims both Garlinghouse and Larsen were reckless in allowing Ripple Labs to distribute XRP the way it did.
According to the court’s order, the parties have until December 4, 2023, to submit all pretrial filings alongside relevant exhibits.
SEC May Not Submit Blackout Dates For Trial
As Ripple execs have submitted their blackout dates to the court, the SEC is also expected to do the same. However, the SEC may not indicate when it will not be available for the trial.
Recall that the SEC, in its request for interlocutory appeal, asked the court to pause the scheduled trial based on its appeal plans.
As expected, both Garlinghouse and Larsen filed an opposition to the SEC’s request to stay the trial proceeding against them. Ripple execs lawyers argued that the default statutory rule for an interlocutory appeal states that such an appeal shall not “stay” proceeding in the district court.
Ripple CEO Boosts Legal Team
As the trial edges closer, Garlinghouse has made significant moves to bolster his defense. According to letters shared by Filan, two esteemed lawyers from Cleary Gottlieb Steen & Hamilton LLP have indicated an interest in representing Garlinghouse in the case.
Attorney Caleb J. Robertson officially filed an appearance to appear as counsel for Garlinghouse in the SEC case.
#XRPCommunity #SECGov v. #Ripple #XRP Attorney Caleb J. Robertson has filed an appearance on behalf of @bgarlinghouse. https://t.co/EnqeEun3bN pic.twitter.com/VLszkcSpx3
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) August 22, 2023
In parallel, Attorney Michael A. Schulman filed a motion seeking to represent the Ripple CEO as Pro Hac Vice.
#XRPCommunity #SECGov v. #Ripple #XRP Attorney Michael A. Schulman has filed a Motion to Appear Pro Hac Vice on behalf of @bgarlinghouse https://t.co/1znd6I81dLhttps://t.co/fzLWgo5pQ2
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) August 22, 2023
For context, Pro Hac Vice is a legal term that indicates a lawyer’s request to practice in a jurisdiction where they have not been licensed. Notably, both lawyers will defend Garlinghouse in the upcoming trial.
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