SEC’s one-line response was a waste of the court’s time in the Ripple lawsuit

According to information from the lawyer who closely follows the lawsuit between Ripple and the SEC, James K. Filan, the SEC has filed a one-line response to the Ripple Defendants’ efforts to enforce Judge Netburn’s ruling on the authentication of videos of SEC officials’ remarks. The SEC says it takes no position on Ripple’s request to reopen fact discovery.

Ripple Lawsuit: SEC’s Delay Strategy Criticized Once More

Ripple defendants sought permission to serve non-party subpoenas to authenticate videos of seven SEC officials’ public remarks in connection with previous RFAs (request for admissions). In the brief submitted to Magistrate Sarah Netburn, Ripple lawyers state that the SEC has not consented to this and, specifically, “The SEC communicated to the defendants that it would only consent if the defendants agreed to reopen discovery.” However, Ripple maintained that the two subpoenas it sought the court’s permission to serve were not a reopening of discovery.

“As Ripple stated in the original request, the subpoenas Ripple seeks permission to serve are not a reopening of discovery but relate back to RFAs Ripple served before the end of fact discovery and which are needed to effectuate Judge Netburn’s Order”, Filan stated. According to the defense lawyer, the SEC’s one-line response was “simply an abuse of the judicial process and a waste of the court’s time, as evidenced by the fact that the SEC waited five days to file a one-sentence response, which the SEC then misconstrued Ripple’s original request.”

He also said that the parties filed a request for a briefing schedule for motions to seal parts of their responses to each other’s motions to exclude expert testimony. This means everything will be filed and remain under seal until Judge Torres sorts it out.

Recently, the Ripple Defendants have filed their Response to the SEC’s Objections to Magistrate Judge Netburn’s decisions on the DPP issue and the Attorney-Client Privilege issue. The Parties are filing their Responses to the Motions to Exclude Expert Testimony. It’s all under seal now so there is nothing to see, but those of you who follow docketing services will get notices that things are being filed on the docket.


In another development, lawyer Jeremy Hogan claims he is stumped in the one-sentence response: “I’m at a loss on this one sentence Reply Brief. My instinct is that Att’y Guerrier realized how bad he would look if he actually tried to argue the SEC’s position and so he took the easy way out. I think it’s fair to say the lawyering from the SEC has been…strange recently.” But CryptoLaw founder John Deaton still believes that the SEC’s claims over XRP being security were “absurd” in respect of Robinhood’s XLM listing. XRP-friendly attorney Fred Rispoli likewise spoke along these same lines.

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