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Judge Netburn has granted Ripple’s two business days extension plea regarding the Slack communication dispute with SEC in the ongoing XRP lawsuit. Ripple’s counsel had sent a letter to the judge requesting an extension till Monday, August 16, 2021, to respond to the SEC’s emergency motion against its internal communication data on the Slack messaging application.
“Ripple’s response to the SEC’s motion is due no later than August 16, 2021. The SEC’s reply, if any, is due no later than August 19, 2021.”, stated Judge Netburn.
#XRPCommunity #SECGov v. #Ripple #XRP Judge Netburn grants Ripple's motion for extension of time. She Orders that "Ripple's response to the SEC's motion is due no later than August 16, 2021. The SEC's reply, if any, is due no later than August 19, 2021."
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) August 10, 2021
SEC’s Emergency Motion to retrieve Slack data
The SEC had filed an emergency motion, requesting to revisit its claims against Slack data that Ripple had been withholding. The approval of SEC’s emergency motion would force Ripple to produce the pending data from Slack, that was used for Ripple’s internal communications according to the Securities and Exchange Commission.
#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: SEC files emergency motion for a discovery conference regarding Slack communications. Seeks order compelling Ripple to search and produce relevant communications between Ripple employees on Slack.https://t.co/AQ8Av1igoV
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) August 9, 2021
SEC accused Ripple of pulling back from producing the relevant documents to hide its crime. The plaintiff stated that the defendants had earlier agreed to comply and provide the required data, however, as the date of discovery came closer, Ripple unceremoniously pulled back, refusing to provide Slack data, because of a “data processing mistake”.
Relevance of undiscovered Slack conversations
SEC has put forward a list of 11 Ripple witnesses with the help of incomplete Slack records. The plaintiff argues that Ripple’s Slack conversations hold “Highly Relevant Communications”, and the respondent should be compelled to search and produce responsive messages from 22 out of 33 of its email custodians.
SEC has also highlighted that the demanded data includes conversations of the individual respondent, Garlinghouse, along with messages among all designated custodians of the company, weighing into SEC’s suspicion.
“The messages produced show Ripple employees (including custodians whose Slack messages Ripple refuses to search) discussing issues directly relevant to disputes at the heart of this case. These messages include (a) discussions about Ripple’s desire to create speculative trading in XRP, see Ex. I (Compilation Exhibit with highlights of relevant portions added by the SEC) at 2-6; (b) the effect of Ripple announcements and efforts on, and Ripple’s concerns as to, the price of XRP, id. at 8-24; (c) the relationship and central importance of XRP sales to Ripple’s overall business, id. at 26-37; and (d) the regulatory status of XRP, id. at 39-40.”, SEC stated in the letter.
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