XRP Lawsuit: Judge Grants Ripple’s Request To Review Videos Of SEC OfficialsAugust 15, 2022 9:27 pm
In the latest development of the SEC vs Ripple lawsuit, it has been revealed that Judge Netburn has granted Ripple’s request to authenticate videos of SEC officials.
Specifically, the ruling will allow for the authentication of seven different videos of SEC officials where they had made public comments.
The authentication of these videos will likely bring additional information that can be used by the court and is expected to help strengthen Ripple’s defense in the lawsuit.
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This new ruling comes after the SEC’s one-liner response where it stated that it took no position on Ripple’s motion to reopen fact discovery which frustrated many XRP holders.
#XRPCommunity #SECGov v. #Ripple #XRP In a Text Only Order, Judge Netburn granted the Ripple Defendants’ Motion to Serve Two Subpoenas to authenticate videos of seven SEC officials’ public remarks and ignored the SEC’s claim that Defendants were trying to reopen fact discovery. https://t.co/VWs7teCHhE pic.twitter.com/NxNxzN5j5W
— James K. Filan 🇺🇸🇮🇪 109k (beware of imposters) (@FilanLaw) August 15, 2022
The judge’s order comes in response to Ripple’s motion, seeking permission to serve two non-party subpoenas to obtain copies of seven video recordings in connection with the court’s July 19 order.
Ripple’s request was in response to the SEC trying to reopen discovery and seeking a waiver of authenticity and other procedural objections to the agency’s videos, a tweet by defense lawyer James K. Filan showed.
The SEC claimed it would seek to authenticate the remarks once Ripple offers downloaded versions of the SEC videos, which are hosted on two video platforms.
Ripple said that the two subpoenas it looked to serve are not a reopening of discovery and pose no timeliness issue.
Judge Netburn “ignored the SEC’s claim that Defendants were trying to reopen fact discovery,” Filan wrote in the tweet.
Many see this new development as a major blow for the SEC’s position and will be a major setback for the agency for the remainder of the lawsuit.
The SEC’s previous one liner response was accused by many as being an attempt to delay the judicial process.
After all, it apparently took them five days just to write a single sentence response which makes the SEC’s intentions quite clear.
However, this is not the first time that SEC has utilized such tactics as the lawsuit continues to drag on towards the two year mark.
The authentication of these videos of SEC officials will perhaps accelerate the progress of the lawsuit.
✅Judge Sarah Netburn grants #Ripple motion to authenticate video recordings in which #SEC officials made public remarks 👏 win for #XRP #XRPCommunity #XRPHolders $XRP #Crypto #cryptocurrencies ⚡️https://t.co/7izv19VJVg
— CookingandCrypto (@CookingandCryp1) August 15, 2022
However, things have moved south for the SEC. The details of the latest win for Ripple were revealed by well-known lawyer James Filan.
The agency had earlier objected to Ripple’s request of authenticating videos and instead put on a condition that it would consent to the request only if the defendants agreed to reopen discovery.
The goal behind SEC’s move was to serve several subpoenas so that it can obtain video material that would bolster its own claims.
Lately, the SEC has been at the receiving end of a string of defeats, and the authentication of the remarks made by the officials of the regulator is likely to further strengthen Ripple’s defense against accusations made by the plaintiff.
Despite the case being dragged, Ripple CEO Brad Garlinghouse believes a resolution may be found before the end of the year.
Ripple Gains Permission to Authenticate Critical Videos of SEC Officials https://t.co/EVfitsh6b3
— Gue100 (@Gue1006) August 15, 2022
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