Lawyer James Filan Discusses Why Ripple and SEC Settlement is Unlikely

Kavya  |  Jul 31, 2021

Mr. Filan, a seasoned expert in commercial litigation and the founder of Connecticut-based Filan LLC, discussed a settlement between Ripple, Inc./ the US Securities and Exchange Commission is unlikely.

James Filan Discusses Why Ripple/SEC Settlement Is Unlikely

According to Mr. Filan's Twitter storm, he believes that a settlement between Ripple, Inc. and the United States Securities and Exchange Commission is an unlikely and not feasible option.

Filan went on to say that neither the SEC nor Ripple, Inc. are willing to compromise. Mr. Filan, however, disagrees with attorney Jeremy Hogan, who claims that the parties are close to reaching an agreement.

Mr. Filan is certain that William Hinman's deposition will provide Ripple with the greatest possible advantage. The SEC's former director of corporate finance purportedly shed light on the SEC's interactions with third parties.

"We're In A War"

As a result, Mr. Filan believes that Ripple officials are engaging with Hinman's correspondents to provide an updated stance on this part of the case.

This lawsuit is about winning and ensuring the success of the whole crypto sector. If the SEC or anybody else is harmed as a result of this, it is their fault... This is the conflict.

As previously reported, Ripple has won several battles with the U.S. SEC. The payment decacorn has been charged by the watchdog of making unlawful securities offers to consumers in the United States.

The Court Declares The Possibility Of A Ban On Contacting Regulators Regarding Ripple

One of the lawyers represented the Ripple fintech behemoth and two of its most prominent executives in court is James K. Filan. In addition, the lawyer announced on Twitter that a brand-new discovery conference will be held.

In addition, the conference addressed the SEC's efforts to get documentation on Ripple from international regulators. The paperwork must be collected so that it may be used against the company in the lawsuit.

According to discoveries, the court has set another meeting for the business and the Securities and Exchange Commission.

It took place via teleconference on April 30 that involved the Securities and Exchange Commission's efforts to establish relationships with overseas regulators dealing with Ripple in other nations.

Furthermore, it should be noted that the company has been establishing Memorandums of Understanding (MOUs) with regulators on further Ripple data or documents that may be relevant to the lawsuit.

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