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Ripple File against SEC's request for 60-day Extension in SEC v. Ripple


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Posted (edited)

Screenshot of the letter:  https://twitter.com/CryptoGOAT7/status/1402390174877765635/photo/1

 

This You Tube commentator is extremely thorough and level headed - he is doing a very good job reviewing the contents of court documents

Jeremy Hogan  https://twitter.com/attorneyjeremy1/status/1402453862406098945

 

 

Edited by Julian_Williams
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Screenshot of the letter:  https://twitter.com/CryptoGOAT7/status/1402390174877765635/photo/1   This You Tube commentator is extremely thorough and level headed - he is doing a very good job

Those brackets are used when changing the capitalization from the original quote or changing it for some grammatical reason.  They are always used when quoting from another source.  So, for example, i

Does it have o be the full 60 days or nothing?  This extension prolongs the Discovery and Expert witness time to October.  This has put Ripple back a year, is this reasonable leverage by a government

Posted (edited)

Ripple are saying the delays are directly affecting and damaging their business relationships, and that the reason SEC are asking for more delays is that SEC have been incompetent in doing the normal work of Discovery in the normal way.  The unspoken suspicion is that SEC incompetence is a planned strategy to inflict more damage on to Ripple.

It is a well written letter.  Ripple are asking the judge to depart from normal practice and to deny the extension request.  I think she could go either way.

No one has said whether the judge could grant an extra two weeks rather than an extra 60 days.  

Edited by Julian_Williams
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15 minutes ago, Julian_Williams said:

Ripple are saying the delays are directly affecting and damaging their business relationships, and that the reason SEC are asking for more delays is that SEC have been incompetent in doing the normal work of Discovery in the normal way.  The unspoken suspicion is that SEC incompetence is a planned strategy to inflict more damage on to Ripple.

It is a well written letter.  Ripple are asking the judge to depart from normal practice and to deny the extension request.  I think she could go either way.

No one has said whether the judge could grant an extra two weeks rather than an extra 60 days.  

I would expect some or maybe even full extension be given. Ripple writes a very good opposition letter to it, but I expect the Judge could say something to Ripple along the lines of: "You requested these documents because you felt they were key to the case, so they will get more time to provide what you requested."

I just really hope it's not the full 60 days. 

By stalling, delaying (hurting Ripple's business), it now looks like the SEC is trying to bring Ripple to the table for a settlement, and not the other way around. 

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3 minutes ago, RipMcGillicuddy said:

I would expect some or maybe even full extension be given. Ripple writes a very good opposition letter to it, but I expect the Judge could say something to Ripple along the lines of: "You requested these documents because you felt they were key to the case, so they will get more time to provide what you requested."

I just really hope it's not the full 60 days. 

By stalling, delaying (hurting Ripple's business), it now looks like the SEC is trying to bring Ripple to the table for a settlement, and not the other way around. 

I interpret it that way round, but I have heard lawyers comment that the SEC's behaviour is not the sort of behaviour they would expect from someone seeking settlement.  So I am nonplussed about what to think 

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The court wants the parties to have the relevant documents and information so that they can present their full case and arguments.  The court won't allow overly broad discovery and won't allow repeated excuses about needing more time.  Balancing everything, I think the court will likely grant this extension, but it's not a slam dunk for the SEC either.  In any event, this particular motion is not that significant in the big picture. 

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Posted (edited)

So lets say they get the 60 days, when those 60 days are up do they come back and ask for 60 more??? I' am just curious to see when the judge is going to put her foot down on the SEC's lunacy! They don't get a pass to circumvent the guidelines that have been laid out because their the SEC!!! They have had 8 years documents should be at their fingertips!!! If these Lawyers for the SEC were working a private case I'm sure a good portion of them would have been fired by now for their lack of due diligence and incompetence, it's almost like the SEC said were going to file a case and by the way we will be pulling stuff out are a$$ as we go so you will have to make due with it.

 

Edited by RikkiTikki_is_Back
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4 minutes ago, Alluvial said:

The court wants the parties to have the relevant documents and information so that they can present their full case and arguments.  The court won't allow overly broad discovery and won't allow repeated excuses about needing more time.  Balancing everything, I think the court will likely grant this extension, but it's not a slam dunk for the SEC either.  In any event, this particular motion is not that significant in the big picture. 

Does it have o be the full 60 days or nothing?  This extension prolongs the Discovery and Expert witness time to October.  This has put Ripple back a year, is this reasonable leverage by a government body over a private company? 

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This was one of the first letters I read through all the way. So it was the first time I was aware of all the deposing happening along the way. Did anyone notice the final pages were a subpoena for David Schwartz to produce certain documents? 

I hate that my guy is all caught up in this. 

Wonder if the SEC has ever requested anything at all from Jed "Hush Money" McCaleb. 

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32 minutes ago, Julian_Williams said:

Does it have o be the full 60 days or nothing?  This extension prolongs the Discovery and Expert witness time to October.  This has put Ripple back a year, is this reasonable leverage by a government body over a private company? 

I'm an attorney, but practice exclusively in arbitration, and not in court where the discovery rules are different - so I don't have experience with how a court would deal with this type of extension request.  That being said, yes, I think the judge could grant part of the extension request, for 30 days for example.  This is a big case, and the judge will want to allow the parties to be able to develop the record as is reasonable to support their arguments.  Sixty days is not that big of a deal IMO given how long some of these cases can drag on.  Ripple was naturally going to oppose the SEC's request, but it won't be too surprising if the court grants this one.     

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21 minutes ago, djdhrubs said:

As a complete aside, anyone know why some sentences (a)re (w)ritten (l)like (t)his in these legal letters? I always wonder wtf is going on lol.

Those brackets are used when changing the capitalization from the original quote or changing it for some grammatical reason.  They are always used when quoting from another source.  So, for example, if the original quote (usually from another court decision) being cited to the court was the end part of a sentence, but that section of the original quote is now being used as the beginning of a sentence in the current quote, then brackets are used around the first letter of the first word.  "[H]opefully, that makes sense."  But I also noticed that there was a lot of that in this last letter.

 

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