Ripple

Ripple vs SEC: One-Liner Reply by the SEC Amuses the Defense Lawyer

Written by: Delma Wilson

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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Aug 10, 2022

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The Securities and Exchange Commission has replied to a request from ripple and individual defendants to serve subpoenas to two non-parties in order to verify seven videos of public statements made by SEC officials.

Updates provided by defense attorney James K. Filan states that”The SEC has filed a one-line response to the Ripple Defendants’ efforts to enforce Judge Netburn’s ruling on the authentication of videos of SEC officials’ remarks. The SEC says it takes no position on Ripple’s request to reopen fact discovery.”

Prior to this, Ripple defendants requested authorization to issue non-party subpoenas to get videos of seven SEC officials’ public statements in relation to earlier RFAs (request for admissions). 

Is it an abuse of the Judicial Process?

However, Ripple argued that the two subpoenas it requested authorization from the court to serve did not constitute a reopening of discovery. This is claimed by James K. Filan, who says:

“As Ripple stated in the original request, the subpoenas Ripple seeks permission to serve are not a reopening of discovery but relate back to RFAs Ripple served before the end of fact discovery and which are needed to effectuate Judge Netburn’s Order.”

The defense attorney claimed that the SEC’s one-sentence response was “just an abuse of the judicial process and a waste of the court’s time,” as shown by the fact that the SEC waited five days to file a response before misinterpreting Ripple’s initial request.

Jeremy Hogan, an advocate for XRP, claims to be at a loss for words in the brief reply:  “I’m at a loss on this one sentence Reply Brief. My instinct is that Att’y Guerrier realized how bad he would look if he actually tried to argue the SEC’s position and so he took the easy way out. I think it’s fair to say the lawyering from the SEC has been…strange recently.”

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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