Amanda Knox case latest news update: Final verdict may be out as early as March 2015

The final verdict on the murder case involving American woman Amanda Know may be out next month.

According to a report on the British newspaper The Telegraph, Italy's Supreme Court may hand down a final ruling on Knox's case "as early as March."

Knox is accused of killing her flatmate, British student Meredith Kercher, in the Italian town of Perugia in November 2007.

Kercher, 21, was found dead on the floor of her flat more than seven years ago. She was then a foreign exchange student at the University of Perugia

Knox's Italian ex-boyfriend, Raffaele Sollecito, was her co-accused in the Kercher murder case.

In 2009, Knox and Sollecito were found guilty of murder. This conviction, however, was later quashed due to the supposed contamination of forensic evidence for the crime.

The prosecutors appealed the junking of the cases. Last year, an Italian court upheld the original guilty verdict against the former lovers. The case was then elevated to the Italian Case of Cassation.

Despite having been found guilty twice for Kercher's murder, Knox and Sollecito were not incarcerated. Italy's legal system entails that the highest court rule on a case first before the suspects are jailed.

Knox is currently living in her hometown, West Seattle, and is currently working as a reporter for a small weekly newspaper, The West Seattle Herald.

Sollecito, meanwhile, finished an information technology degree from the Verona University.

Knox and Sollecito will be imprisoned for 28.5 to 25 years, respectively, if the Supreme Court decides to uphold the guilty verdicts against them.

Italy's highest court, however, can also order a retrial of the Kercher murder case.

The high-profile murder case has attracted widespread international media attention, particularly when one prosecutor ruled that Knox and Sollecito killed Kercher as part of a satanic ritual.