Eight expert witnesses yet to testify, more delays in Ripple Vs SEC case
Magistrate Judge granted the motion to extend the discovery phase in the Ripple Vs SEC lawsuit case.
Ripple is a San Francisco-based giant payment network blockchain company. In December 2020, the US securities and exchange commission (SEC) filed a lawsuit against the Ripple company for selling more than $1.2 billion worth of XRP tokens (as unregistered securities). This case between SEC and Ripple company is extending with rare exceptions to end.
In the latest, US magistrate Judge Sarah Netburn approved the motion of increasing the discovery pause time between Ripple and the SEC Agency. This extension shifted the discovery phase by 28 Feb. This is a clear indication that 1 month more time was added in the Ripple Vs SEC lawsuit.
The motion of this extension was filed by the parties to conduct additional depositions. In actuality, around 8 witnesses, in this case, are yet to test because of the issues of travelling and some personal issues also.
First Discovery Phase Extension
A few months ago, the SEC agency filed a motion to increase the discovery phase time, so that the agency can collect information and some witnesses more perfectly against the Ripple company.
Magistrate Judge granted the motion of the SEC agency to extend the discovery phase by 19 January 2022. However, at that time, Ripple company opposes the motion of the SEC Agency and claimed that SEC Agency was only extending the case.
After that, SEC also filed a motion against Ripple to show all important videotapes regarding its meeting with other parties.
Ripple counter-action on SEC agency
A few days ago, an attorney of Ripple filed a motion against the SEC agency and claimed that the SEC agency is trying to use the outcome of other cases wrongly, which are neither linked with Ripple Vs SEC, nor matters are similar.
Around a week ago, the SEC agency took the reference of the SEC vs Fife case, where the Federal court took the side and favour of the SEC agency.
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