Crypto NewsRipple (XRP)

Ripple Takes Action to Block SEC’s ‘Transparent Attempt’ to Delay Court Cases

payment company Ripple Labs and some of its top executives are declining a request from the Securities and Exchange Commission to request more time or space to respond to potential new filings.
Ripple Labs, its CEO Brad Garlinghouse, and its chief executive Chris Larsen said in a Sept. 20 filing that the SEC was making a “transparent attempt” to delay resolving the lawsuit in which the market regulator alleges the payments company issued XRP as a unregistered security.

Defendants believe the SEC should be given more time or space to respond to additional briefs filed by amici curiae. Earlier this week, the Crypto Advocacy Group Chamber of Digital Commerce sought permission from the court to file a lawsuit amicus curiae meager.

“Defendants Ripple Labs Inc., Bradley Garlinghouse and Christian A. Larsen respectfully submit this letter in response to the Chamber of Digital Commerce’s request for permission to file an amicus curiae letter and the SEC’s response thereto.

The defendants do not comment on the application of the Chamber of Digital Commerce. However, we are writing to respond to the SEC’s suggestion that it intends to request additional time for its opposition and additional pages when other Amici Curiae files filings. This is another transparent attempt to further delay the resolution of this case and the court should reject it.”

Ripple says the SEC should strictly follow the previously agreed schedule.

“Courts do not normally grant parties additional pages to respond to amici arguments, even in cases of significant amicus interest. The SEC is free to use the space already allocated in its objection and response letters to address arguments presented by Amici and to do so according to the briefing schedule already established, as defendants are doing. The court should not grant the SEC’s motion.”

The SEC stated its intent to seek more space and time earlier this week in a Sept. 19 court filing.

“The SEC respectfully submits this response to the Chamber of Digital Commerce’s application for permission to file an amicus curiae letter. The SEC is not commenting on the motion, but respectfully requests that if the motion is granted, the SEC may respond to the motion as part of its brief challenging defendants’ motion for summary judgment on October 18, 2022. The SEC may seek additional remedies from the court (including additional time for its response and/or additional pages for its October 18 objection brief, if additional amicus curiae briefs are permitted.”

Featured Image: Shutterstock/geonini

Source: Crypto News Deutsch

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button