Ripple Requests Sur-Reply to Correct SEC’s Factual Mischaracterization
In the ongoing SEC v. Ripple Labs lawsuit, Ripple has filed a request for a sur-reply to address a significant factual mischaracterization made by the SEC. The move comes after the SEC supported its motion to compel, seeking Ripple’s audited financial statements, post-complaint contracts for XRP transfers, and details on XRP Institutional Sales proceeds.
Ripple Corrects False Statements Made by the SEC
Ripple has sent a letter to Magistrate Judge Sarah Netburn, requesting a sur-reply to correct false statements made by the SEC in its reply to the motion to compel. Ripple believes that clarifying these issues will allow the court to make an accurate ruling. The company disagrees with many contentions made by the SEC but is solely focused on correcting a significant misstatement of fact.
SEC’s Misstatement Regarding Post-Complaint Contracts
The SEC falsely claimed that Ripple did not argue it would be burdened in producing post-complaint contracts. However, Ripple has pointed out that the SEC’s request is overly burdensome and would require a new trial. Additionally, the SEC’s statement about Ripple producing all XRP sales contracts from 2020 to June 2023 is incorrect. Ripple did not produce any contracts after December 22, 2020.
Reaction from Pro-XRP Attorney Bill Morgan
Pro-XRP attorney Bill Morgan responded to the SEC’s mischaracterization, expressing disbelief at their actions. He questioned whether the SEC would make such false claims.
Hot Take: Ripple Seeks Accuracy and Fairness in Lawsuit Proceedings
Ripple’s request for a sur-reply demonstrates their commitment to ensuring accuracy and fairness in the SEC v. Ripple Labs lawsuit. By correcting false statements made by the SEC, Ripple aims to provide the court with an accurate record for ruling. The outcome of this case will have significant implications for the cryptocurrency industry as a whole.
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