The US Securities And Exchange Commission Continues To File A Response To Ripple’s Move
As the SEC’s action against Ripple continues, the Securities and Exchange Commission is seeking that it write a long response to its move to exclude the testimony of Ripple Labs’ witnesses.
The U.S. Securities and Exchange Commission asked Judge Analisa Torres on Wednesday for a reply of up to 90 pages in length in support of its July petition to exclude the testimony of Ripple’s ten expert witnesses.
The motion was filed after the judge directed on April 28 that such motions and responses be limited to 15 pages per expert witness.
The SEC filed a complaint against Ripple in December 2020, stating that its sale of XRP — the native coin of Ripple Labs’ XRP Ledger — constituted unregistered security offering worth more than $1.38 billion.
Ripple’s executive chairman Chris Larsen and CEO Brad Garlinghouse were also identified as co-defendants for allegedly aiding and abetting Ripple’s crimes.
Last week, the U.S. Securities and Exchange Commission also filed a reply brief in support of its objections to orders requesting drafts of a 2018 lecture delivered by former director William Hinman.
Judge Sarah Netburn allowed Ripple’s move to issue two subpoenas to authenticate seven video recordings of SEC officials making public remarks on August 14.
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