- The business has opposed the SEC’s most recent request for post-complaint discovery.
- Ripple notes that the SEC’s demands go above the 25-question limit set forth by Rule 33.
In the continuing legal struggle between XRP and the SEC, Ripple, the firm behind the token, is pushing back. The newest development is that Ripple has opposed the SEC’s most recent request for post-complaint discovery.
The crux of the matter is the SEC’s request that Ripple provide more records and respond to new questions, which Ripple views as untimely and unrelated to the matter at hand.
Strong Counter-attack
With the filing of XRP’s response to the SEC’s motion, the legal dispute entered a new phase. The regulatory agency is trying to get Ripple to reveal any XRP transactions with non-employee parties after the complaint and give audited financial statements for 2022 and 2023.
The amount of money that Ripple made from institutional sales of XRP after the filing of the lawsuit is also something that the SEC wants answered.
Firmly arguing that these demands are both untimely and unrelated to the current issue, Ripple has launched a strong counter-attack. The business stresses that the SEC could have requested this data during the open fact discovery process, but they choose not to. According to Ripple, the SEC does not have a legitimate reason to request this information.
Ripple emphasizes that, with the exception of a limited scope approved by the Court, the SEC’s late demands originate after fact discovery has concluded.
In addition, the business notes that the SEC’s demands go above the 25-question limit set forth by Rule 33 and that the actions taken after the complaint was filed do not pertain to the matter at hand.
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