In the newest improvement within the U.S. Securities and Exchange Commission (SEC) v. Ripple Labs lawsuit concerning the movement to compel remedies-related discovery, Ripple requests the courtroom for a sur-reply to right a big factual mischaracterization made by the securities regulator.
The transfer comes after the SEC’s replied in assist of its movement to compel. The SEC seeks Ripple’s audited monetary statements for 2 years, post-complaint contracts for the sale or switch of XRP to “non-employee counterparties”, and particulars on the quantity of “XRP Institutional Sales proceeds”.
Ripple’s Reply To SEC’s False Misstatements
Ripple sends letter to Magistrate Judge Sarah Netburn to right factual mischaracterization within the SEC’s reply in assist of its movement to compel, as per courtroom filings late January 24. Ripple provides that the courtroom would largely profit from the sur-reply as it is going to make clear the problems in dispute, permitting the courtroom to rule on an correct document.
In an exhibit connected to the sur-reply request, defendant Ripple Labs attorneys allege that they don’t agree with many contentions within the SEC’s reply. However, Ripple solely to right a big misstatement of truth by the SEC this time.
Ripple mentioned the SEC claims that Riplpe “does not … argue that it would be burdened in producing” post-complaint contracts, which is fake. Ripple in its objection particularly identified that the SEC’s request is “overly burdensome,” and would require an entire new trial.
The SEC’s assertion — Ripple “recently catalogued and presumably produced, in the ongoing class action suit, all of Ripple’s XRP sales contracts from 2020 to June 2023, including determining the identity of the counterparties to those contracts” is a misstatement.
Moreover, the declaration of Carolyn Dicharry in Zakinov v. Ripple Labs can also be false. The firm doesn’t produce any contracts after December 22, 2020.
Pro-XRP legal professional Bill Morgan reacted to vital factual mischaracterization by the SEC concerning post-complaint contracts Ripple had disclosed within the Zakinov lawsuit. “No way. The SEC wouldn’t do that. Surely not?”
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