Ripple Is Allowed To Review Videos Of SEC Officials

On Sunday, US District Judge Sarah Netburn allowed Ripple Labs’ motion to serve two subpoenas to authenticate seven video recordings of US Securities and Exchange Commission employees making public remarks.

The judge’s order comes in response to Ripple’s application, which sought authority to serve two non-party subpoenas in connection with the court’s July 19 order.

According to a tweet by defense lawyer James K. Filan, the motion was in reaction to the SEC’s attempt to reopen discovery and seek a waiver of authenticity and other procedural objections to the agency’s videos.

The SEC stated that it would endeavor to authenticate the remarks whenever Ripple makes downloadable versions of the SEC recordings available on two video platforms.

The blockchain company stated that the two subpoenas they sought to serve do not constitute a reopening of discovery and do not pose a timeliness issue. Judge Netburn “ignored the SEC’s claim that Defendants were trying to reopen fact discovery,” Filan wrote in the tweet.

The SEC filed a lawsuit against Ripple in December 2020 that the sale of XRP was an unregistered securities offering worth more than $1.38 billion. Ripple’s executive chairman Chris Larsen and CEO Brad Garlinghouse were also identified as co-defendants by the SEC for allegedly aiding and abetting Ripple’s violations. The case is not over yet.

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