Rule

Request

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<p>In the latest twist of the SEC vs. Ripple Labs legal showdown, the SEC <a href="https://www.crypto-law.us/wp-content/uploads/2024/02/SEC-Motion-for-Extension-of-Time-to-File-Remedies-Related-Briefing.pdf" rel="noopener noreferrer nofollow">has put forth</a> a proposal to extend the timeline for submitting briefs related to remedies in the ongoing lawsuit.&nbsp;</p>
<p>The formal request has been placed before Judge Analisa Torres in the Southern District of New York, aiming to reschedule the SEC's opening brief to March 22.&nbsp;</p>
<h2 id="legal-maneuverings">Legal maneuverings&nbsp;</h2>
<p>This move marks the first time either party has sought an extension in the remedies-related briefing schedule, with Ripple expressing its consent to the proposed timeline adjustments.</p>
<p>The SEC's request for a deadline extension is attributed to a need for additional time to review recently produced documents and finalize remedies-related briefing.&nbsp;</p>
<p>This comes after a dispute between <a href="https://u.today/ripple-to-face-another-lawsuit-details" rel="noopener noreferrer nofollow">Ripple</a> and the SEC regarding the scope of discovery was resolved on Feb. 5, leading to a one-week extension of the initial discovery deadline by Magistrate Judge Netburn.&nbsp;</p>
<p>The SEC asserts that "good cause" exists for this brief extension under Federal Rule of Civil Procedure 16(b)(4), citing diligent efforts in completing remedies-related discovery and briefing.&nbsp;</p>
<p>The absence of an imminent trial in the case further supports the SEC's position for a deadline extension, aiming to ensure thorough preparation and review before submitting their opening brief.</p>
<h2 id="the-sec-s-recent-win">The SEC's recent win&nbsp;</h2>
<p>As <a href="https://u.today/sec-scores-big-win-against-ripple" rel="noopener noreferrer nofollow">reported by U.Today</a>, the SEC's litigation against Ripple recently took a favorable turn, with the court mandating Ripple to disclose specific financial records and contract details.</p>
<p>Despite Ripple's objections, the court found the requested documents essential for determining an appropriate remedy and assessing the necessity of an injunction.&nbsp;</p>

Ripple Faces New SEC Deadline Extension Request

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