Defendants and Plaintiff seek approval from the court for their recent briefing schedule.
Ripple Labs and Individual Defendants Chris Larsen and Brad Garlinghouse have requested the Court’s approval of the page limits and briefing schedule concerning the SEC’s response to its Requests for Admission (RFA).
In a recent motion, the Defendants noted that the parties had reached a point of no return on the matter, and the Securities and Exchange Commission had already consented to the proposal.
Ripple and SEC’s Proposal
While the specific dispute has not yet been identified, Ripple noted that the parties have agreed to one particular briefing scheduled regarding its motion to compel, which is expected to be filed in earnest.
Per a recent request sent to Judge Sarah Netburn, the parties have agreed that the Defendants’ motion to compel will not exceed seven pages. In comparison, Plaintiff’s responses in opposition to the Defendants’ motion will also not go beyond seven pages.
Any opposition response from Plaintiff will be due within ten business days after the submission of Ripple’s motion to compel.
Similarly, Ripple’s response to the SEC’s opposition will not exceed four pages and will be done within four days after Plaintiff makes its position on the matter known.
“With respect to page limits, Defendants believe that a combined motion of seven pages or fewer, which is below the five-page-per-party limit provided by Section II.C for Court’s Individual Practices in Civil Cases, will permit the court to fully consider the factual basis and legal issues raised in the Motion and serve the interests of judicial economy and efficiency,” Ripple said.
Attorney James K. Filan, while commenting on the development, said since the date for the motion has not been set, it is expected that it will be filed soon.
The date for filing the Motion to Compel has not been stated so we should expect it to be filed very soon.
— James K. Filan 🇺🇸🇮🇪96k+ (beware of imposters) (@FilanLaw) May 18, 2022
Although the dispute has not yet been identified, it is expected that the case borders on Ripple’s effort to use the Fair Notice Defense, which would help prove that it did not get prior warnings from the SEC that its XRP offering would breach U.S. securities laws.
Recall that the blockchain company had insisted that the SEC answer its nearly 30,000 requests for admission, which it believes are relevant to its Fair Notice Defense.