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Yesterday, Ripple asked the court to dismiss recent SEC motions to grant additional time to challenge a recent decision handed down by Judge Sarah Netburn on Jan. 13. This was announced by lawyer James Filan on Twitter. Ripple claims that the SEC is only trying to drag out the case and contradicts itself with its latest proposal.
Defendants Ripple and its executives allege that any further delay would be detrimental to them, accusing the Commission of taking a wait-and-see approach to delay filing documents that could potentially be key to the case.
The court granted the SEC’s motion in part
But, to the surprise of many observers of the case, the court partially granted the SEC’s motion. In the writ, Judge Netburn granted in part the Securities and Exchange Commission’s request for an extension of the review period for its DPP decision.
The order provides the following: “The SEC request is granted in part. The SEC may file any motion for rehearing by February 17, 2022, and Defendants may file their response by February 25, 2022. Response Notes are not allowed. The short description should be limited to ten pages (double-spaced), and public versions should be minimally edited. The SEC may submit 10 additional documents for in-camera viewing along with its motion. The deadline for either party to file an objection with the Torres District Judge in connection with the January 13, 2022 opinion and order of the court has been extended to 14 days from the date of the decision on the motion for review.”
The subject of the dispute are emails containing a draft of Bill Hinman’s speech. The SEC’s motion asked the court to give it more time to submit supporting documents that would show that the emails in question were advisory in nature.
This development came as a nasty surprise to the XRP community, and some began to suspect that Judge Netburn was showing favoritism towards the SEC. Observers of the case represented by lawyers John Deaton and Jeremy Hogan are also perplexed about what is happening. The latter writes on his Twitter that these events extend the opening phase until March.
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