TechFlow news: The next phase of the SEC's lawsuit against Ripple is set to move forward. On July 17, Judge Analisa Torres of the U.S. District Court for the Southern District of New York filed documents referring the case to the Magistrate Judge’s office, where Judge Sarah Netburn will oversee the upcoming proceedings.
According to the court's revised order of referral to the magistrate judge, the next step involves general pretrial procedures, including scheduling, discovery, non-dispositive pretrial motions, and settlement discussions.
Fox Business journalist Eleanor Terrett tweeted that Judge Sarah Netburn has ordered that if Ripple and the SEC believe a settlement conference would now be productive, they may agree on a date convenient for both parties. Due to a busy court calendar, settlement conferences typically require 6–8 weeks’ advance notice. However, this does not imply that Ripple and the SEC will reach a settlement within 6–8 weeks.
