in

Ripple back in a rut as court grants SEC motion to compel discovery in Slack dispute

SEC vs. Ripple Lawsuit


The latest development in the XRP Lawsuit has come as a shock to the defendants. The court has granted the plaintiff’s Motion to Compel Discovery of Ripple’s Slack communications.

Ripple has tried every trick in the book to dismiss SEC’s request to the court, compelling ripple to product pending documentation in the Slack dispute. From the passive stance of offering a bargain by the discovery of additional, relevant, and case-specific Slack data; to the active action of filing a sur-reply to correct SEC’s “misstatements” in Slack data dispute. Yet, Ripple has lost the battle against SEC in preventing the discovery of its internal Slack conversations.

“ORDER granting 283 Letter Motion. The Slack messages sought are relevant to the parties’ claims and defenses and proportional to the needs of the case. Any burden to Ripple is outweighed by its previous agreement to produce the relevant Slack messages, the relative resources of the parties, and the amount in controversy. Accordingly, Ripple is ordered to search and produce responsive documents from the Slack platform from the 22 custodians identified by the SEC.”, stated the Order.

Attorney Tessler’s technical consultancy rejected

Ripple’s end of the case became weaker as the court also rejected Attorney Tessler’s offer to practice Pro Hac Vice as counsel for amicus curiae, on behalf of the Chamber of Digital Commerce.

The court announced that the “attorney does not represent a party or a movant in the case. The Clerk of Court is directed to strike The Chamber of Digital Commerce from the docket pending a proper motion for leave to file an amicus brief.”

Ripple saw a ray of light with Attorney Tessler’s entrance in the XRP lawsuit. Her professional background in protecting the crypto community from regulatory issues became a solid ground for speculating a position turn for Ripple in the XRP lawsuit. However, Ripple has bored the burn of two consecutive losses overnight. Both, losing Tessler’s potential support and being compelled to produce Slack data, has accounted for a bad day and long journey for the defense in the XRP lawsuit.

Disclaimer

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

About Author





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

What do you think?

Asia-based crypto exchange Zipmex secures $41M USD in Series B funding

Asia-based crypto exchange Zipmex secures $41M USD in Series B funding » CryptoNinjas

Bitcoin Retests the Critical $50K Level, Is It Close to Breaking Out? (BTC Price Analysis)

Bitcoin Retests the Critical $50K Level, Is It Close to Breaking Out? (BTC Price Analysis)