Ripple insists SEC has to answer its requests for admission

According to the latest update from the lawyer who closely follows the lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC), the blockchain giant asserts that the agency must respond to admission requests related to defendants’ fair notice defense.

Ripple insists that SEC has to answer its requests for admission

It is known that the requests for admission are a discovery tool. It was deployed to make the opposing party admit certain facts under oath. Accordingly, the agency is seeking a protective order that will allow it not to provide answers to the defendants’ RFAs. The plaintiff has estimated that responding to all of the 29,947 abusive and oppressive requests submitted by Ripple would take 473 days.

Also, SEC filed a Notice of Supplemental Authority supporting its opposition to the Individual Defendants’ Motions to Dismiss.

ripple-insists-sec-has-to-answer-its-requests-for-admission

Source: James K. Filan

The defendants argued that the SEC would only have to respond to a small fraction of such requests, urging the court to reject the agency’s recent motion.

“The Court should deny the SEC’s motion and direct the SEC to reply within 30 days”, they stated.

Ripple contends that the requests will significantly narrow the issues for the trial.

According to K. Filan, the defendants filed their opposition to the SEC’s request for a telephone conference to seek a protective order relieving the SEC of any obligation to respond to the Requests for Admission (“RFA”).

The defendants state that the RFAs concern critical facts that Defendants believe are not genuinely disputed; truthful admissions by the SEC will significantly narrow the issues for trial.

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