Ripple Executives Call For Sanctions Against The SEC’s ‘Gamemanship’March 27, 2022 2:40 pm
Based on the latest updates that are available regarding the Ripple vs. SEC lawsuit, it looks like the executives of Ripple are starting to lose patience.
This is reasonable given that the SEC has been consistently been delaying the lawsuit with tactics that include requesting unreasonable extensions and delaying briefing schedules.
During this time, Ripple Labs continues to maintain a strong defense on the argument that XRP is not considered a security which has been largely supported based on the documents that have been revealed in the case so far.
Trending: President Trump Calls Out Gary Gensler!
In light of the delays that have been experienced before, it has been reported that Brad Garlinghouse and Chris Larsen have now filed a letter to strike the SEC’s Metz Supplemental Expert Report.
Ripple Labs and the individual defendants- Chris Larsen and Brad Garlinghouse have filed a letter supporting their motion to strike the SEC’s Metz Supplemental Expert Report.
James Filan, a renowned attorney, added the latest development on Twitter.
In fact, “Dr. Metz failed to present a complete statement of all opinions” that he “intended to express and the basis and reasons for them” in his initial report. This fell in line as required by the Federal Rules of Civil Procedure.
The supplemental expert report from Dr. Metz would only reward the SEC for its “gamesmanship” and further prejudice the defendants, Ripple said. Furthermore, the company added,
“A continuance would reward the SEC for its gamesmanship, and further prejudice Defendants. The SEC has already asked the Court for numerous extensions in this case that Defendants have vigorously opposed”, the letter stated.
Essentially, the purpose here is to ensure that there is no more incentive for the SEC to continue doing the actions that it has already been doing.
So far, many have reacted positively to this filing as attorney Jeremey Hogan tweeted on Twitter saying that the ‘gloves have come off’ indicating that Ripple is actively exploring all options now to win as soon as possible.
Ripple’s strong stance in the lawsuit so far has encouraged further accumulation of Ripple’s native token XRP in recent months with recent data showing that XRP is the most used for smart contracts among whales.
The focus is now on whether this new filing will affect the current schedule of the lawsuit in any way and put enough pressure on the court to force the SEC to comply.
Swell Labs and the singular respondents Chris Larsen and Brad Garlinghouse have recorded a letter supporting their movement to strike the SEC’s Metz Supplemental Expert Report.
A large number responded in a positive manner post this document.
As Ripple kept a solid position in the claim against the SEC, huge holders liked a greater amount of XRP, the local token.
According to WhaleStats information, whales’ utility of XRP expanded as it positioned among the most utilized savvy shrinks by the 1,000 greatest BSC whales.
At the time of writing, the price of XRP continues its recent uptrend with current price recorded at 84 cents.
Join the conversation!
We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.