Wednesday, November 30, 2022
HomeCrypto NewsMarketNew: Another Delay In Ripple v. SEC Lawsuit As Court Approves Time...

New: Another Delay In Ripple v. SEC Lawsuit As Court Approves Time Extension Request Made By The Parties 

- Advertisement -
Follow-Us-On-Google-News

 

Another Delay In Ripple v. SEC Lawsuit.


The court has granted Ripple and the Securities and Exchange Commission (SEC) a two-week time extension request to discuss and agree on the appropriate attorney’s fee required to depose the supplemental rebuttal report from Dr. Albert Metz.

The approval, which came through text, saw “any motion for attorneys’ fees as described in the Court’s April 19, 2022 order . . due by May 27, 2022,” attorney James Filan said. 

SEC Punished for Improper Conduct

Recall that the Securities and Exchange Commission was slammed by Judge Sarah Netburn for how it conducted itself during the submission of experts’ testimony. 

The SEC’s move to submit supplemental expert testimony on the deadline for discovery earned the agency a knock from Judge Netburn. 

Based on the SEC’s improper conduct, the court ordered the agency to cover the expenses of Ripple’s attorney during the process of deposing Dr. Metz’s supplemental rebuttal report. 

“The SEC is ordered to pay Defendants’ reasonable expenses in filing their motion to strike and re-deposing Dr. Metz,” Judge Sarah noted in her April 19 ruling,” Judge Netburn ordered in the verdict. 

Joint Motion 

While many thought the parties would have concluded on an appropriate fee, both the SEC and Ripple disclosed that they were still negotiating a reasonable fee and would require the deadline for the attorney’s fee to be extended to May 27, 2022.  

“Pursuant to the court’s April 19, 2022 order, Plaintiff and Defendants are still meeting and conferring regarding a reasonable fee award. The parties, therefore, jointly request that the Court extend the deadline by which any motion for attorney’s fees must be filed to May 27, 2022,” the joint motion reads. 

It is worth noting that Dr. Metz is a witness for the SEC who would prove that Ripple’s actions had a direct impact on the price of XRP during the sale of the digital currencies in 2013, as part of a larger plan to prove that the Defendants breached the United States securities laws. 

- Advertisement -
Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

- Advertisment -

Recent News & Articles

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.