The Securities and Exchange Commission (SEC) has requested for an extension of deadlines in the ongoing legal performance against ripple Labs, Inc., due to recent developments in the case. According to former US federal prosecutor James K. Filan, the SEC has petitioned for adjustments to the briefing schedule regarding “remedial measures” in the lawsuit. The request is currently under review by Judge Analisa Torres of the Southern District of New York.
Petition for Deadline Extensions
In a significant turn of events, the SEC has applied for multiple deadline extensions concerning the filing of briefs on “remedial measures.” The proposed modifications include moving the opening brief deadline from March 13th to March 22nd, extending the opposition brief deadline from April 12th to April 22nd, and shifting the reply brief deadline from April 29th to May 6th, 2024. The SEC justifies this request under Federal Rule of Civil Procedure 16(b)(4), citing “good cause” due to the recent discovery dispute resolution between the parties involved. ripple Labs has reportedly agreed to the SEC’s extension request.
Pending Court Decision
As the SEC awaits Judge Torres’ ruling on its extension request, these deadline modifications could potentially alter the course of the case. If approved, the extended deadlines would impact the schedule for submitting briefs on potential remedies, thereby influencing the lawsuit’s trajectory. The trial is scheduled for a jury hearing on April 23rd, 2024.
John Deaton’s Critique of the SEC
In a related development, xrp advocate and lawyer John Deaton has expressed his concerns about the SEC’s policies. Deaton, who is known for his vocal stance on regulatory matters concerning ripple and xrp, recently criticized the SEC for a perceived lack of integrity rather than incompetence. His comments have sparked lively discussions within the cryptocurrency community, shedding light on the ongoing legal dispute between ripple Labs and the SEC.
Significance of Deaton’s Commentary
Deaton’s criticism of the SEC highlights the contentious nature of the regulatory scrutiny faced by ripple Labs. As an ardent supporter of xrp investors, his views resonate with a portion of the cryptocurrency community who are displeased with the SEC’s handling of the case. Amidst the evolving legal proceedings, Deaton’s commentary adds an additional layer to the ongoing dialogue surrounding ripple’s regulatory challenges.
