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ORDER granting 389 Letter Motion for Extension of Time to Complete Discovery. The parties agree to extend the deadline to exchange expert rebuttal reports to November 12, 2021. They dispute, however, whether all expert discovery (including depositions) should be completed by December 10, 2021 (giving the parties 18 business days to conduct depositions) or January 14, 2022 (giving the parties 36 business days). The parties acknowledge that there are likely at least 14 expert witnesses that will be deposed. The Defendants believe these depositions can reasonably be conducted within 18 business days given the resources available to the SEC. They further argue that any further delay in resolving this case will cause serious harm to the interests of the Defendants and XRP holders. While the Court recognizes that both parties have dedicated substantial resources to prosecute this case, given the pending motions to dismiss and strike, and the previous adjournment of any deadline to file a motion for summary judgment, the additional time sought by the SEC will not affect the schedule to resolve this case. Rather, the additional time sought by the SEC will allow both sides to complete the outstanding fact discovery and properly prepare for expert depositions. Accordingly, the SEC's application is GRANTED. Expert discovery will be completed on January 14, 2022, with rebuttal reports exchanged by November 12, 2021. (HEREBY ORDERED by Magistrate Judge Sarah Netburn)(Text Only Order) (Netburn, Sarah) (Entered: 10/20/2021)

https://www.courtlistener.com/docket/19857399/securities-and-exchange-commission-v-ripple-labs-inc/?filed_after=&filed_before=&entry_gte=&entry_lte=&order_by=desc

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18 minutes ago, HAL1000 said:

ORDER granting 389 Letter Motion for Extension of Time to Complete Discovery. The parties agree to extend the deadline to exchange expert rebuttal reports to November 12, 2021. They dispute, however, whether all expert discovery (including depositions) should be completed by December 10, 2021 (giving the parties 18 business days to conduct depositions) or January 14, 2022 (giving the parties 36 business days). The parties acknowledge that there are likely at least 14 expert witnesses that will be deposed. The Defendants believe these depositions can reasonably be conducted within 18 business days given the resources available to the SEC. They further argue that any further delay in resolving this case will cause serious harm to the interests of the Defendants and XRP holders. While the Court recognizes that both parties have dedicated substantial resources to prosecute this case, given the pending motions to dismiss and strike, and the previous adjournment of any deadline to file a motion for summary judgment, the additional time sought by the SEC will not affect the schedule to resolve this case. Rather, the additional time sought by the SEC will allow both sides to complete the outstanding fact discovery and properly prepare for expert depositions. Accordingly, the SEC's application is GRANTED. Expert discovery will be completed on January 14, 2022, with rebuttal reports exchanged by November 12, 2021. (HEREBY ORDERED by Magistrate Judge Sarah Netburn)(Text Only Order) (Netburn, Sarah) (Entered: 10/20/2021)

https://www.courtlistener.com/docket/19857399/securities-and-exchange-commission-v-ripple-labs-inc/?filed_after=&filed_before=&entry_gte=&entry_lte=&order_by=desc

**** me. 

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I was trying to keep myself positive. I felt the Judge would want to help us. I'm still hopeful. Judge Netburn, if your interns are scrolling through these threads, know that we need you to do what is right by us. You and Judge Torres. 

What Clayton and Hinman did was wrong. Tens of thousands of us are telling you we want clarity, help and resolution. 

End this sham of a case soon. 

Clayton and Hinman - all the money in the world won't clean your legacy. History will not vindicate you. 

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16 minutes ago, Alluvial said:

All that being said, sometimes what appears to be a ruling against a party is really an insight into how the court might be thinking about the merits of the case.  Sometimes, for example, when my firm is litigating a case at the final arbitration hearing, the arbitrators, as the hearing progresses, begin to make rulings that seem to consistently be against our side - such as objections to evidentiary issues all going against us and in the other side's favor.  What that often means, however, is that the arbitrators have pretty much decided to rule in favor of our client, and they bend over backwards to allow the other side to present their case fully and in some ways even restrict our side from presenting certain evidence if the other side objects.  They do that so that the losing side doesn't have an argument on appeal that the arbitrators were unfair to the losing party, which can cause the final ruling to be vacated.  I am not saying that is in play here, but it is possible to small degree.  Of course, the judge has not made any final decisions, but she could be leaning.  So I take this as an extremely minor positive.         

Thanks for the perspective. So it's possible that [the court has] pretty much decided to rule in favor of [Ripple], and they bend over backwards to allow the other side [SEC] to present their case fully and in some ways even restrict [Ripple] from presenting certain evidence if the other side objects.  They do that so that the losing side [SEC] doesn't have an argument on appeal that the [court] was unfair to the losing party, which can cause the final ruling to be vacated. 

^ there I fixed it :) 

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I am no a lawyer and have no experience in fighting legal cases, but I have been reading it the same as @Alluvial.  The judge has been tiptoeing through the minefield that SEC has laid, never letting her annoyance show in spite of their bad behaviour.  SEC is a very big beast and if she is going to noose it she has to do everything by the book.  The SEC have very powerful allies.

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@Alluvial and @Julian_Williams

I share the same perspectives ... 

But I think the "limiting-a-chance-at-an-appeal" is a weak talking point.  

Why? 

Because it will get appealed regardless of who loses. 

  • Ripple doesn't have much of a choice to appeal if it loses. 
  • And if you think that a reasonable SEC wouldn't appeal, you'd really have to ask would a reasonable SEC have even filed to begin with? ... let alone wouldn't a reasonable SEC have backed off a few obvious lost causes like claiming ALL XRP to date are securities, or BG & CL were knowingly reckless, etc. 

So, Torres/Netburn need to work to end this ASAP ... and let the SEC/Ripple gear up for the appeals court fight.

In the interim, it will give us some modicum of clarity, and

  • XRP holders would be happy,
  • Ripple would be happy, 
  • and a (reasonable) SEC should be happy knowing their incompetence is no longer front and center stage. 

>.< 

Now we've got to drudge through several more months of cr@p ... to get a 'more just and equitable ruling' ... that will in turn get appealed by either Ripple or an obviously bat-sh@t-crazy SEC. 

 

 

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1 hour ago, Alluvial said:

Everyone is naturally trying to read between the lines about this extension relating to discovery, and it's normal to do that. 

I am an attorney who litigates, but in arbitration, not court.  Keep in mind that this is a huge case involving an extended time period with numerous witnesses and numerous expert witnesses.  There is a lot on the line, and the court certainly knows that.  The last thing the court wants to do is have either party prejudiced by not being able to reasonably complete discovery, and it certainly does not want a party to be able to argue on appeal that it was prejudiced by not being able to properly complete discovery.  So I am not at all surprised by the court granting this extension. 

All that being said, sometimes what appears to be a ruling against a party is really an insight into how the court might be thinking about the merits of the case.  Sometimes, for example, when my firm is litigating a case at the final arbitration hearing, the arbitrators, as the hearing progresses, begin to make rulings that seem to consistently be against our side - such as objections to evidentiary issues all going against us and in the other side's favor.  What that often means, however, is that the arbitrators have pretty much decided to rule in favor of our client, and they bend over backwards to allow the other side to present their case fully and in some ways even restrict our side from presenting certain evidence if the other side objects.  They do that so that the losing side doesn't have an argument on appeal that the arbitrators were unfair to the losing party, which can cause the final ruling to be vacated.  I am not saying that is in play here, but it is possible to small degree.  Of course, the judge has not made any final decisions, but she could be leaning.  So I take this as an extremely minor positive.         

I understand a big part of the 'land of the free', aside of weapons trade and war, US economy is based upon everybody suing everybody. But I still dont get the "lets sue 'm and try to find something to actually build a case... Ahh crêpe we need more time because google failed us" way of society. 

I assume more time means more paid laywers so more tax paying citizens? 

Yet its starting more and more to look like the last "every man for themselves" power/money grabbing phase of a failing empire.

And no, I'm not only talking about just this lawsuit. Way beyond that. The US are drifting further and further away from... The rest of the world. 

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4 minutes ago, Caracappa said:

I understand a big part of the 'land of the free', aside of weapons trade and war, US economy is based upon everybody suing everybody. But I still dont get the "lets sue 'm and try to find something to actually build a case... Ahh crêpe we need more time because google failed us" way of society. 

I assume more time means more paid laywers so more tax paying citizens? 

Yet its starting more and more to look like the last "every man for themselves" power/money grabbing phase of a failing empire.

And no, I'm not only talking about just this lawsuit. Way beyond that. The US are drifting further and further away from... The rest of the world. 

 

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