Ripple, SEC files joint motion asking for more time in pending lawsuit 

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Crypto Regulation
Ripple, SEC files joint motion asking for more time in pending lawsuit 

Per a tweet from James Filan on Tuesday, the Securities and Exchange Commission (SEC) and Ripple have asked for more time to submit their Daubert motions and supporting documentation. They claim that the forthcoming holidays and their lawyers’ busy schedules necessitate more time.

An extension request has been filed by the SEC, and Ripple

Both the SEC and Ripple have asked for more time to submit their Daubert motions and accompanying information to the public docket. The parties asked the court for an additional two months, until January 13, 2023, in a letter dated December 20, 2022. Eminent defense attorney James K. Filan was responsible for the letter’s circulation.

Due to the forthcoming holidays and the attorneys’ busy schedules, the parties have requested this. There have been several requests for redactions from third parties, and the forthcoming sealing briefing has prompted the parties to request further time to file their Daubert motions.

Note that this isn’t the first time the parties have asked for an extension together. They both requested additional time in May to file their papers on attorney costs following receipt of a supplemental report from Dr Albert Metz.

New information emerged less than a day after Judge Analisa Torres issued an order regarding the parties’ requests to seal documents related to the Daubert motion.

More details regarding the court case 

Daubert filings have been made by the SEC, Ripple, and non-parties requesting the sealing and redaction of relevant documents. Since the identities of expert witnesses and proprietary company information are at stake, the parties have asked the court to issue a sealing order.

Judge Torres ruled that the Daubert motions’ supporting documents must remain sealed to preserve the privacy of Ripple and the non-parties. A legal battle between Ripple Labs and the US SEC dates back to the year 2020. The precedent that these proceedings may establish may have far-reaching effects on the Bitcoin sector as a whole.

An online settlement may have been discussed on Twitter this month.

The organization behind Ripple, Ripple Labs, and the SEC have both filed applications for summary judgment, asking the court to rule quickly. All summary judgment briefs were due by November 30, and once submitted, they were made available to the public.

Ripple’s CEO Brad Garlinghouse predicts a resolution by the middle of 2023, leaving about three to four months. Moreover, he said, Ripple may opt to end the litigation if the SEC rules that XRP is not a security.

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Ifeanyi Egede

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