SEC has asked for an extension to file an objection to XRP holders’ request to participate in briefing process
The U.S. Securities and Exchange Commission (SEC) notified that court that it plans to file an objection to an amici licensing request requested by XRP holders.
#XRPCommunity #SECGov v. #Ripple #XRP The SEC has filed a motion for extension of time until June 7, 2022 to file objection to amici request to participate in briefing regarding the expert challenge. pic.twitter.com/ZCxhqv8OAW
— James K. Filan 🇺🇸🇮🇪96k+ (beware of imposters) (@FilanLaw) May 24, 2022
SEC wants to prevent XRP holders from assisting court
It asks Judge Analisa Torres to extend the time until June 7 due to the upcoming holiday and other briefing deadlines. The defendants and attorneys advising amici curiae did not object to the request, so the court is likely to grant it.
Attorney John Deaton’s request to intervene was denied in October. However, the court granted amici status to six XRP holders, which enabled them to assist the court. Earlier this May, Deaton asked the court to write a brief on behalf of other community members who have been affected by the lawsuit.
The move was in response to a testimony of expert SEC witness Patrick Doody, whose report aims to explain what motivated XRP holders to buy the token.
XRP holders claim that “it is quite difficult to imagine” a more relevant issue justifying their participation in briefing regarding the expert testimony. Their participation will help to ensure “the complete and plenary presentation” of the issues in question.
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