SEC vs. Ripple: US Judge Orders Both Parties from the XRP Lawsuit to Hold a Discovery Conference
[NEWS BLOG]: SEC vs. Ripple: US Judge Orders Both Parties from the XRP Lawsuit to Hold a Discovery Conference
In a fresh twist to the Securities and Exchange Commission (SEC)’s fight against Ripple Labs, US judge Sarah Netburn has directed both parties to hold “a telephonic discovery conference on Tuesday, April 6, 2021.” The judge’s order directs the parties to discuss a motion to compel filed by Ripple’s lawyers.
"Motion to Compel"
On March 15, lawyers representing current Ripple Labs CEO Brad Garlinghouse and Christian Larsen had asked Judge Netburn to compel the SEC to produce documents relating to the regulator’s lawsuit against the fintech firm.
In their motion, Ripple’s lawyers argued that seeking this court order had been necessitated by the regulator’s refusal to produce the requested documents. Specifically, the lawyers allege that the SEC had failed to provide “a single document concerning bitcoin or ether–two virtual currencies that are closely analogous to XRP.”
Furthermore, in their motion, the lawyers also allege that the SEC is failing to produce internal documentation that relates to XRP’s legal status. The lawyers are also seeking “any documents from ten of the nineteen custodians the defendants proposed.”
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