XRP Lawsuit: Both Parties Joint-File Extension For Metz Report Deadline

May 14, 2022 2:18 pm Comments

Just yesterday, Ripple had submitted its response to the SEC’s claims regarding the Hinman documents and their assertion that the documents were protected by attorney-client privilege.

The response details exactly why those claims do not hold true based on multiple reasons that are revealed HERE.

Ripple had also argued that the details of the documents do not even contain any information that are related to confidential information relating to the agency.

The best point that Ripple made was that the SEC had no right to make this assertion in the first place and that only Hinman himself could make the assertion.

The newest update regarding the case is the fact that both parties have now also filed an extension when it comes to the Metz Report deadline.

U.today reports:

Parties request extra time concerning the Metz report

In fresh updates shared by James K. Filan, Ripple and the SEC have filed a joint request for an extension of time regarding the attorney’s fee connected to the Dr. Albert Metz Supplemental Report.

Earlier in the case, the Court denied the Ripple defendants’ (Brad Garlinghouse and Chris Larsen) motion to strike the Metz report while reopening discovery until May 13 to re-depose Dr. Metz.

The SEC was, however, ordered to pay “reasonable expenses” regarding filing the motion and re-deposing Metz.

This was considered quite surprising as Ripple would technically not file an extension for anything unless the extension would be able to help their defense against Ripple.

Such was the case for when Ripple requested an extension in order to prepare its response to the SEC’s claims on the Hinman documents.

To give some background context, this relates to the court order that the SEC should be paying for the attorney fees gathered from Dr. Metz’s report.

These fees are quite low and there seems to be more pressing matters than these fees so it is surprising that Ripple had did a joint filing with the SEC.

CryptoNews.net report:

However, for the first time in the lawsuit, both the Defendants and the Plaintiff have jointly requested for a two-week time extension to discuss and agree on the appropriate attorney’s fee in connection with Dr. Albert Metz’s supplemental rebuttal report.

The SEC and Ripple filed a joint motion today seeking a time extension so that they can decide what fee is appropriate to cover the blockchain company’s attorney charges while filing motions to re-depose Dr. Metz’s reports.

“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,” excerpt of the motion reads.

There is a significant chance still for the lawsuit to conclude by the end of the year and the worst case scenario being early 2023.

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