Ripple-SEC Lawsuit: SEC Is Deploying another Delay Tactic with the Latest Request Filed

[solodeji]

Many people who have been observing the ongoing lawsuit between Ripple, the San Francisco-based cross-border payments firm, and the United States Securities and Exchange Commission (SEC), have accused the latter of deploying delay tactics to buy more time.

According to the recent update from James K. Filan, a defense lawyer and former federal prosecutor, the SEC has recently filed another request for an extension of time. The regulator is asking the court to extend the 23rd March deadline for the parties to propose a discovery schedule for the individual defendants.

James K. Filan tweeted, “BREAKING: The SEC has filed yet another request for an extension of time, asking the Court to extend the March 23, 2022 deadline for the parties to propose a discovery schedule for the Individual Defendants until one week after the Individual Defendants file their answer to the SEC's complaint. The Individual Defendants object and will file a written objection today.”

Would the Lawsuit Not Extend Beyond 2022?

Developments in recent weeks make many think the case could end soon. But with all these delay tactics being deployed by the SEC, observers are beginning to doubt the possibility of ending the legal tussle this year.

About a week ago, Judge Analisa Torres denied the SEC’s motion to stop Ripple from using the Fair Notice Defense, which is seen as a big win for the blockchain payment firm.

Following the denial, the cross-border payment firm will have to prove to the Judge that the SEC failed to provide a prior notice about the existing United States Securities Law it was breaching since it started offering the digital token XRP.

https://timestabloid.com/ripple-sec-lawsuit-sec-is-deploying-another-delay-tactic-with-the-latest-request-filed/

[Julian_Williams]

Apparently Judge Torres is a risk averse judge who has a reputation for allowing cases to get extended and extended, but SEC are running out of options.  Deaton says they still have some delay options up their sleeves that could add another 2 - 3 months to get rid of.

Delay helps SEC avoid facing settlement on unfavourable terms, but as the options for delay become exhausted SEC finds itself with its back more and more against the wall.  The optimum time for SEC to settle would surely have been may last year when things were much more uncertain for Ripple.

[NightJanitor]

9 hours ago, Julian_Williams said:

Apparently Judge Torres is a risk averse judge who has a reputation for allowing cases to get extended and extended

Well, you know, you don't get up there without knowing how "not" to make a decision - but sometimes it is necessary.

In other news, I saw her name in an update from another case she's on, where the DOJ was hiding documents from her.

(No telling when she'll get tired of that kind of thing & put the hammer down on this or that clown agency doing same...)

"We'll see..."