Ripple’s Brad Garlinghouse and Chris Larsen have provided Judge Torres with the dates on which they will be able to be available for the court hearing scheduled to take place in 2024. The SEC (Securities and Exchange Commission) appealed after failing to be satisfied with the ruling that was made in the first trial.
Ripple Executives Provide The Judge With Their Schedules
The two have gone ahead to mention that they will be unavailable for the first half of April 2024. The dates given specifically are from the 1st to the 14th of the month. They have also said that they will be able to show up for the court proceedings in the second quarter of the year
#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
In the judicial system, when a trial is set up, all the parties must decide on a date that fits all of them. The plaintiffs, judges, and, lawyers all have to be present otherwise the trial will not be considered a standard one. Coming up with a suitable schedule ensures there is no postponement or delay.
Initially, the judge had ruled in favour of the XRP token which gave Ripple Labs a partial victory. The SEC had accused Ripple Labs of selling XRP as a security and this would have caused the token to undergo a lot of scrutinization if the judge had ruled in favour of the regulatory firm.
The SEC was not satisfied with the verdict passed and it proceeded to appeal believing that there was still a chance for the case to be reviewed. When one party appeals, they are requesting that the case should be reviewed in another trial after they fail to be satisfied with the first ruling.
The XRP token is one of the most popular cryptocurrencies and the final ruling in the case will affect the future of the token significantly.