As expected, US District-Court Judge Analisa Torres has granted Ripple partners’ requests to file amicus briefs in support of the defendant’s summary judgement motion.
In a November 14th order, shared by James K. Filan on Twitter, the Judge Analisa Torres has granted requests of all 16 Ripple partners and 2 SEC supporters to file amicus briefs. The list of entities includes Coinbase, Blockchain Association, Deaton, CCI, I-Remit, TapJets, I-Can, Chamber of Digital Commerce, Spend-the-Bits, Valhil Capital, VeriDao, Cryptilian Payment System, New Sports Economy Institute, Accredify, Reaper Financial, and Paradigm Operations.Among the list New Sports Economy Institute and Accredify are Ripple supporters.
In the order, courts have formally set a deadline of November 18 by which all the above-mentioned entities must file their respective amicus briefs. It is notable, until now Coinbase seems to be the only company that have actually filed a brief with the court, on October 31st.
Ripple is rightfully giving a lot of weight to the amicus briefs. In an earlier tweet Ripple’s General Counsel Stuart Alderoty had stated that the entities have filed amicus briefs’ requests to show how wrong the SEC is. The briefs are meant to show to the court how damaging the SEC lawsuit has been to their interests.
Moreover, recently there was news of a settlement between the SEC and Ripple circulating in the market. The rumour spread when Fox News reported that the settlement could be struck between the parties on November 15th hearing. Fox reporter Eleanor Terrett was heard saying “I know you’re expecting a settlement tomorrow in the lawsuit between the Securities and Exchange Commission and Ripple”.
Later, Fox Business’ senior correspondent Charles Gasparino conceded that the rumours were indeed false, which was later confirmed by Ripple. Further, at the time of writing Ripple’s native XRP is up 8.6% in the day as it stands at $0.37.