Lisa R. Zornberg, a well-known US attorney representing Ripple Labs in their legal battle against the Securities and Exchange Commission (SEC), has requested to withdraw from the case. This comes after her recent appointment as New York Chief Counsel by Mayor Eric Adams. Ripple has filed a motion asking the court to grant Zornberg’s request, as she will no longer be associated with the law firm Debevoise & Plimpton LLP starting from July 31, 2023.
If approved, Zornberg will be the fourth attorney to withdraw from the Ripple vs. SEC lawsuit. Previously, attorneys Anna R. Gressel, Clayton J. Masterman, and Kylie Chiseul Kim were granted permission to withdraw as they were no longer affiliated with the law firm representing Ripple.
Despite the attorney changes, Ripple assured that other attorneys from Debevoise & Plimpton LLP, including Andrew J. Ceresney, Erol N. Gulay, and Christopher S. Ford, will continue to represent the company’s interests in the case.
In other developments, Magistrate Judge Sarah Netburn has ordered Ripple and the SEC to schedule a settlement conference. The court has requested three mutually convenient dates for the conference, emphasizing that it should be scheduled at least six to eight weeks in advance to accommodate the court’s availability.
Additionally, it remains uncertain whether the SEC will appeal Judge Analisa Torres’ ruling on XRP’s status as a security. Ripple’s legal chief, Stu Alderoty, believes that an appeal by the SEC could potentially affirm and amplify the judge’s decision.
As the Ripple vs. SEC lawsuit progresses, these recent developments highlight the ongoing changes in legal representation and the potential for a settlement conference to be scheduled. The outcome of this case will have significant implications for Ripple and the broader cryptocurrency industry.
