Ripple Requests Extension of Deadline in XRP Lawsuit
In response to the Securities and Exchange Commission’s (SEC) motion to compel, Ripple Labs has asked the court to grant a one-week extension for remedies-related discovery. While Ripple has complied with the order to provide financial statements and sales contracts, the company argues that the request is burdensome. They are requesting an extension until February 20, 2024, citing their right to seek an extension of any discovery deadline.
Pro-XRP Lawyers React
Pro-XRP lawyers have reacted to Ripple’s request for an extension. Bill Morgan pointed out that a one-week delay is insignificant after three years of litigation. He also commented on the SEC’s new definition of “dealers” and “government securities dealers,” which will affect crypto liquidity. Attorney Fred Rispoli believes that Ripple fought against discovery because keeping it hidden would allow the SEC to sue Ripple later on. However, he believes that Ripple and XRP still have the upper hand.
Hot Take: Ripple Seeks Extension in XRP Lawsuit
Ripple has requested an extension of the deadline for remedies-related discovery in the ongoing XRP lawsuit with the SEC. While complying with some aspects of the order, Ripple argues that certain requests are burdensome. Pro-XRP lawyers have reacted to this development, expressing their views on the matter. As the case continues, it remains to be seen how these requests and reactions will impact the outcome.
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