thetradingbay

Ripple Requests Additional Time Following Court’s Approval of SEC’s Discovery Demand

SEC

In a recent development in the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), Ripple has sought a one-week extension for remedies-related discovery. The request, filed by Ripple’s legal team on February 6, 2024, proposes to push the deadline from February 12 to February 20, 2024.

The extension plea comes in the wake of delays in resolving the dispute over the relevance of the post-complaint discovery requested by the SEC. Ripple pointed out that the court sided with the SEC on February 5, just a week before the close of discovery.

Ripple underscored that the remaining timeframe is inadequate for gathering the requested information. The discovery request encompasses documents covering the entire post-complaint period. Ripple believes that an additional eight days would suffice to collect and produce the requested discovery.

The extension request is in line with the litigation procedures of the ongoing case, as noted by Ripple’s lawyer. Ripple and the SEC had jointly proposed to produce a remedies discovery on November 9, 2023, allowing a 90-day submission window. However, Ripple had reserved the right to oppose the discovery and seek a deadline extension if denied.

The lawyer urged the court to consider Ripple’s diligent efforts to meet the existing deadlines among other factors. Ripple has timely served its responses to the SEC’s discovery requests and the parties have promptly met and conferred to attempt to resolve the dispute, even during the December holiday week. The unfolding scenario promises to keep the legal and crypto communities on their toes.

Recommended

Meme Coins
Bitcoin
Bitcoin
Ethereum
Bitcoin
You might also like
Meme Coins
Ethereum
Bitcoin
Bitcoin
Ethereum
Bitcoin