SEC’s Another Attempt To Delay Ripple Case; Defendants Argue

Ripple, Brad Garlinghouse, and Chris Larsen, defendants in a lawsuit filed by the US SEC filed an opposition to the latest filing. The letter suggests this is another attempt by the commission to delay awaiting the resolution of this case.

Ripple takes no position on new Amici Curiae

Attorney James Filan informed that the defendants have objected to SEC’s suggestions of seeking some additional time if new Amici Curiae files briefs in the Ripple lawsuit. This response is related to the letter submitted by the Chamber of Digital Commerce trying to get into a legal tussle.

The letter states that Ripple and other defendants take no position on the other Amici Curiae motion. However, the SEC’s request seeking additional time for its opposition is not acceptable. It is yet another clear strive for delay resolution in the case. The court should reject it.

Earlier, Coingape reported that SEC has decided to take no position on the new entry in the long running case. While it asks for more additional time if it gets approved.

SEC trying to stretch its regulatory authority

The Ripple defendants blasted the SEC stating that its overbroad theory threatens an unrequired expansion of its regulatory authority. It added that there is no surprise that more than one Amici Curiae wants to submit briefs in this case.

It added that this was pretty clear even before the court set the summary judgment schedule. While this intent was direct before parties asked for page limits for their briefs.

As per the Ripple defendants, the court does not usually grant parties additional pages to reply to arguments made by some Amici. This is not done even in cases with huge Amicus interest. However, it mentioned that the SEC is free to use the allocated space in its reply.

In the end, Ripple asked the court not to countenance the SEC’s request.