United

Rule

Defiance

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ripples-defiance-against-secs-discovery-demands" rel="noopener noreferrer nofollow">Ripple’s Defiance Against SEC’s Discovery Demands</a> 
In the ongoing legal battle between Ripple and the United States Securities and Exchange Commission (SEC), Ripple has shown firm opposition to the SEC’s latest discovery demands post-complaint. Ripple’s recent filing highlights this as a significant development in the high-stakes legal conflict.
While legal proceedings continue, Ripple has formally objected to the SEC’s enforcement request, challenging the post-complaint discovery demands. Specifically, the SEC has sought Ripple’s audited financial statements for 2022 and 2023 and information regarding post-complaint sales or transfers of <a href="https://en.bitcoinhaber.net/ripple-gains-momentum-as-xrp-leads-crypto-earnings" rel="noopener noreferrer nofollow">XRP</a> to “non-employee counterparties” and inquiries about “XRP corporate sales revenue.”
Ripple’s objections are based on the timing of these demands, claiming they are untimely. The filing emphasizes that the SEC had ample opportunity to pursue these discoveries during the open fact discovery period but chose not to. Ripple asserts there is no good cause for the SEC to enforce these demands now.
Furthermore, Ripple argues that the SEC’s discovery demands exceed the scope of resolution mechanisms and that the information sought is irrelevant to the ongoing legal proceedings. The response points out that the parties had previously litigated the appropriateness of post-complaint discovery, during which the SEC did not discuss its interest in resolution mechanisms.
Ripple emphasizes that the SEC’s demands are unreasonable, noting that on November 14, the SEC presented Ripple with nine interrogatories and three requests for production (RFPs). In response, Ripple objected in December, citing the closure of discovery, the superfluity of interrogatories allowed under Rule 33, and the irrelevance of certain demands related to post-complaint conduct.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/ripples-defiance-against-secs-discovery-demands" rel="noopener noreferrer nofollow">Ripple’s Defiance Against SEC’s Discovery Demands</a></h5>

Ripple’s Defiance Against SEC’s Discovery Demands

BH NEWS

Other articles published on Jan 20, 2024

UNI Price Prediction: UNI Seems in Dilemma; Will Bulls Cross $7?

Grayscale Bitcoin Trust’s Outflows Exert Downward Pressure on Bitcoin

Bitcoin vs. Ethereum: a comprehensive comparison

US CFTC Sues Crypto Exchange Debiex for $2.3 Million ‘Pig Butchering’ Scam

Vitruveo Surpasses $1 Million Milestone in NFT Sales, Strengthens Ecosystem with Successful Fundr...

SEI Crypto: Can SEI Crypto Price Break the Swing Low And Fall?

Join our free newsletter for daily crypto updates!