Ripple vs Zakinov Case Update: Public can observe hearing on Zoom on motions for summary judgment and excluding testimonies.
In the most recent update in the class action case against Ripple Labs, the judge has scheduled a public hearing on various applications to exclude witness testimony and a motion for summary judgment.
On May 30, all attorneys, members of the public, and media are invited to join the hearing via Zoom.
Public Zoom Hearing in Ripple Lawsuit
The court has scheduled a public hearing for Zakinov vs. Ripple in re Ripple Labs Inc. for May 30, per its videoconferencing schedule.
Earlier, XRP attorneys, including Fred Rispoli, predicted that this pivotal hearing might have ramifications for SEC v. Ripple.
Meanwhile, the judge has scheduled an open-to-the-public Zoom hearing.
In addition to a motion for summary judgment, the court will presumably render decisions on several motions to exclude exhibits.
The plaintiff alleged that Ripple engaged in unjust business practices and violated federal and California state securities laws by selling XRP as unregistered securities.
The lawsuit was filed two years before the SEC vs. Ripple Labs case.
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 Discusses Ripple Hearing
Pro-XRP Bill Morgan stated that a move has been filed to exclude the testimony of Alan Schwartz, executive chairman of Guggenheim Partners.
However, Judge Analisa Torres permitted Schwartz to testify in the SITC vs. RAPPLE lawsuit.
In addition, the SEC may use the summary judgment in Zakinov vs. Ripple to its advantage in multiple lawsuits involving Ripple and the SEC, including those involving Coinbase and Binance.
After the remedies phase, experts anticipate the regulator will file an appeal of previous decisions rendered by Judge Torres.
XRP Price Movement Amid Significant Dates
Recent remarks by Ripple CEO Brad Garlinghouse regarding the SEC lawsuit, crypto market forecasts, crypto non-partisanship, the XRP victory, and a possible forthcoming Black Swan event have generated conjecture.
Moreover, Garlinghouse maintains that the SEC will ultimately bear a loss despite appeals and alternative arguments.
The current XRP price is $0.51, representing a decrease of approximately 1% over the past twenty-four hours and 5% over the past week.
Furthermore, the 24-hour low and high are $0.5075 and $0.5179, respectively, and the trading volume has increased by over 70% over the same period.
Analysts forecast that the price will remain at its current level throughout this year.