There’s also buzz suggesting if Ripple failed to make the necessary payment, the outcome will ultimately depend on the withdrawal of both parties’ appeals to resolve the lawsuit. The money, as Fagel explains, is paid, and then it is kept in escrow until the appeals have been formally withdrawn. He added that the process can typically take one to two months after an internal SEC vote.
To date, neither Ripple nor the has commented on the withdrawal of their appeals. Nonetheless, Fagel held optimism that the two parties would embark on dismissals soon. This would then result in a final court order and the release of the checks from escrow to the SEC.
The legal procedure adheres to standard methods, and the court has not exhibited unusual delays. In a related manner, Fagel further explains that both the SEC and Judge Torres have proceeded with the case management in accordance with the general procedures in federal litigation.
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