Ripple vs. SEC Expert Discovery Gets Pushed Back Due To Omicron

January 13, 2022 12:38 am Comments

The Ripple vs. SEC lawsuit has just gotten longer…

Reports have surfaced which reveal that the expert discovery deadline for the Ripple vs. SEC lawsuit is being pushed back a month due to the recent outbreak of the Omicron variant.

An extension has been filed in court on January 13th and documents show that both Ripple and the SEC filed jointly.

Many are confused why Ripple would file jointly with the SEC to extend the deadline but Attorney Jeremy Hogan is not confused at all and believes that someone wants the deposition done in person and not virtually.

Finance Feeds broke the story and shared these important details:

he expert discovery deadline in the Ripple v. SEC lawsuit is reportedly being pushed back a month due to the rapid spread of the Omicron variant, a source close to the case told Fox Business.

The letter regarding the extension of the deadline is expected to be filed in court today and it will likely be a joint motion with both parties, Ripple and the SEC, aligned.

“If they file a joint request, the Judge will sign off on it”, attorney Jeremy Hogan and XRP community member commented on Twitter.

While we await the court filing, XRP investors and the wider crypto and law communities following the case are asking themselves why would Ripple agree to an extension.

“I can only think of two reasons: Either a key person that’s needed for the deposition has covid so it would be necessary/ethical to agree to extend, the second reason would be that a settlement or regulation is coming”, said @yrarwrbach on Twitter, to which attorney Hogan replied: “Either is possible. My instinct is that someone wants the deposition to be done in-person for some reason.”

FX Empire covered the story too:

Fox Business journalist Eleanor Terrett has revealed that the case between the US SEC and Ripple will be pushed back a month. The delay is due to the rapid spread of the Omicron variant. A source close to the matter told Terrett that the motion would be filed in court tomorrow, January 13.

The SEC vs. Ripple case has been going on since 2020 when the regulatory agency charged Ripple with launching and issuing unregistered securities as XRP tokens. The SEC also accused the company of illegally selling $1.3 billion worth of XRP tokens.

Ripple, the CEO and co-founder of the company, Brad Garlinghouse, and Chris Larsen are the defendants in this case. In November, Garlinghouse said he believes the SEC will be concluded this year as Ripple is making good progress.

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