XRP Lawsuit: SEC files further response to its letter motion compelling Ripple to produce internal recordings
The latest development in the ongoing XRP lawsuit saw the SEC file further responses to its letter motion compelling discovery of Ripple’s internal meetings’ audio-visual recordings. In the response letter, SEC noted, now that the plaintiff’s motion has been declared moot, the commission will not engage and thereafter shall not correct “various inaccuracies” in Ripple’s Opposition.
#XRPCommunity #SECGov v. #Ripple #XRP The SEC filed a one page further response regarding the now moot Motion to Compel regarding the recordings of Ripple meeting. pic.twitter.com/3HBv28Ti1z
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) September 10, 2021
SEC argues against Ripple’s ‘document definition’ stance
Nevertheless, the SEC has argued against one of Ripple’s reasons mentioned in the opposition letter, in lieu of seeking “sound recordings” since its January 2021 document request. The SEC asserted that ‘Sound recordings’ are listed under the definition of ‘documents’ by the Federal Rule of Civil Procedure 34.
Ripple, in its opposition letter, had argued against SEC’s vague definition of “documents”, with which the plaintiff accused the defendants of failing to discover data via meet and confer. Ripple had noted that the SEC definition of documents was “unreasonably broad” and result in a discovery process that is “burdensome and disproportionate”.
#XRPCommunity #SECGov v. #Ripple #XRP Ripple has filed its Response to the SEC's Motion to Compel Turnover of Video and Audio Recordings of Ripple Staff Meetings.https://t.co/H8Ys2kjArf
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) September 7, 2021
The SEC has clarified that it is ready to meet and confer with the defendants about the scope and parameters of Ripple’s searches for any additional relevant recordings. Furthermore, the plaintiff has also mentioned that it may seek the Court’s assistance again if they fail at reaching a solution with the defendants for ongoing issues.
One of these issues includes, “the parties’ ongoing dispute as to whether Ripple should search the recordings for those in which the same employees whose emails Ripple agreed to search for responsive documents are the relevant speakers.”
SEC files an objection to Ripple’s Motion to Seal
The SEC has also filed an objection against Ripple’s Motion to Seal documents of the defendant’s internal recordings. However, this motion has already been granted by the court on “an interim basis”.
#XRPCommunity #SECGov v. #Ripple #XRP The SEC has filed an objection to Ripple’s Motion to Seal documents in connection with the recording of various Ripple meetings. Ripple’s Motion to Seal has already been granted on “an interim basis.” pic.twitter.com/49zKMIVymo
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) September 10, 2021
The SEC has argued that sealed documents are relevant to the judicial process and cannot be countervailed with the excuse of business or privacy interests’ disruption, upon public disclosure. Along with appealing the court to deny the seal for Ripple’s internal audio-video recording, the plaintiff has also objected to the seal on redacted portions of Ripple’s motion referencing deposition testimonies and corresponding exhibits.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
