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SEC seeks to file up to 90-page response to motion in XRP lawsuit

The U.S. Securities and Exchange Commission is asking to file a lengthy response to its motion to exclude Ripple Labs witness testimony, as the SEC’s lawsuit against Ripple drags on.

See related article: Judge grants Ripple’s request to review SEC officials’ videos

Fast facts

  • The second filed the application Wednesday to Judge Analisa Torres who is seeking to submit a response, up to 90 pages, in support of her July motion to exclude the testimony of Ripple’s ten expert witnesses.
  • The motion came after the judge on April 28 order that these motions and responses be limited to 15 pages per expert witness.
  • In December 2020, the SEC filed a lawsuit against Ripple alleging that its sale of XRP – the native XRP Ledger coin created by Ripple Labs – was an unregistered securities offering worth over $1.38 billion. US dollars. The SEC has also named Ripple Executive Chairman Chris Larsen and CEO Brad Garlinghouse as co-defendants for allegedly aiding and abetting Ripple’s violations.
  • Last week, the SEC also submitted a responding brief in support of its objections to orders asking the SEC to release drafts of a 2018 speech delivered by former SEC director William Hinman.
  • On August 14, Judge Sarah Netburn granted Ripple’s motion to serve two subpoenas to authenticate seven video recordings in which SEC officials made public remarks.
  • According data from CoinMarketCap.

See related article: SEC files brief on Hinman speech as XRP lawsuit drags on