Judge Grants SEC’s Request To Extend Discovery Phase of Lawsuit With Ripple by Two Months

A federal choose has granted the U.S. Securities and Change Fee’s (SEC) request to increase the invention part of its lawsuit towards Ripple by an extra two months, in response to new case paperwork.

Choose Sarah Netburn says in a new order that the extra time requested by the SEC won’t influence “the schedule to resolve the case.”

“Moderately, the extra time sought by the SEC will enable either side to finish the excellent reality discovery and correctly put together for skilled depositions.”

The invention part is a pre-trial stage of a lawsuit the place each events current related info and proof.

The SEC requested to increase the deadline for skilled discovery from November twelfth to January 14th, citing the necessity for “ample time to arrange rebuttal reviews and depose a minimal of 14 skilled witnesses.” The regulator argued such an extension wouldn’t lengthen the case’s timeline.

Ripple opposed the January 14th extension, arguing that skilled discovery ought to solely be prolonged to December tenth, saying the two-month extension “would needlessly delay discovery.”

Legal professional and crypto authorized skilled Jeremy Hogan, who’s a Ripple supporter, disagrees with Choose Netburn in regards to the extension’s influence on the lawsuit’s timeline.

Says Hogan on Twitter,

“Properly, that’s ‘no bueno.’

Choose argues that the extra time won’t have an effect on the schedule to resolve the case, however I don’t see how that’s potential; it HAS to have an effect on the schedule for briefing abstract judgment.

Case abstract judgment decision no longer till March-Could 2022.”

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