A prominent attorney has compared the chances of the New York Jets winning the Super Bowl to those of the Securities and Exchange Commission (SEC) winning its lawsuit against Ripple.
Over the past few months, the legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC) has taken many unexpected turns. In a recent statement about the ongoing issue, attorney Jeremy Hogan gave the SEC a meagre 2.367% probability of winning, jokingly drawing comparisons to the Jets’ chances of winning the Super Bowl.
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This conclusion is based on Hogan’s thorough analysis, which breaks down the several directions the case may go. Why it seems like a complicated route for SEC to win According to Hogan’s view, the SEC would have to take a convoluted and difficult route in order to defeat Ripple.
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First off, even if the SEC decides to appeal next year and the appellate court grants them support in 2025, the case will still be ongoing. The appeal court would have to send the matter back to the trial judge for more thorough judicial assessments due to the way the judge’s first ruling was worded.
The SEC’s trip would be made much more difficult if the appeal court agreed with them on programmatic sales and returned the matter to the trial court for more investigation.
Hogan has emphasised that an appeal would be required following these updated trial court rulings, and the SEC could only prevail after navigating this complex legal system. The drawback? After that, Ripple could file an appeal with the Supreme Court.
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Evolving SEC appeal Following the surprising decision by the SEC to withdraw charges against Brad Garlinghouse and Chris Larsen of Ripple, the price of XRP shot up by more than 8%, igniting a frenzy of celebration within the XRP community.
Legal experts warn that the SEC’s approach could be intended to expedite the appeals process, nevertheless. Instead of waiting until the trial’s scheduled completion in the spring, the SEC may expedite its battle against Ripple by willingly dropping the accusations.
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