Ripple and individual defendant, Larsen has filed Motion to Compel the SEC to produce the defendant’s interrogatories responses, regarding SEC’s Howey Test blanket application theory.
#XRPCommunity #SECGov v. #Ripple #XRP Defendants Ripple and Larsen file Motion to Compel the SEC to answer interrogatories identifying the SEC’s theory of how the Howey Test applies to virtually all of Defendants’ transactions in XRP over the last 8 years.https://t.co/OdRZDC6VsL
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) September 1, 2021
SEC Howey test theory baselessly claims its application to all digital transactions in XRP by the defendants, over a timeframe of 8 years. Furthermore, Ripple’s former attempt at seeking to identify how the SEC contends Howey applies to all these transactions failed, as the SEC refused to provide any information.
The SEC has regarded Ripple’s questioning of its blanket application of the Howey Test theory as irrelevant. The SEC argued that its case against Defendants involves a “straightforward application of a well-settled legal test”– the Supreme Court’s 75-year-old decision in Howey.
Ripple supports the Letter motion to compel with Rule 33
Ripple has filed its interrogatory questions under Rule 33 that requires the SEC to provide binding representations on its contention of Howey’s application in the XRP lawsuit. Moreover, it also compels the SEC to produce factual support for its arguments.
“Rule 33 requires the SEC to answer each interrogatory “separately and fully,”, and in a manner that is as “specific as possible and not evasive,”. Rule 33 requires full and complete responses to interrogatories in order “to ‘minimize uncertainty concerning the scope of [the SEC’s] claims. Evasive responses “must be treated as a failure to disclose, answer, or respond.”, the defense cited several cases with an elaborate explanation of Rule 33 application to the lawsuit.
Ripple requests for a Combined Letter Motion in unidentified discovery dispute with the SEC
Ripple and Christian Larsen filed another Letter the same day, before its letter motion to compel against the SEC. This letter appeals for the court’s permission to further file a Combined Letter Motion about an unidentified discovery dispute. The defendants state that they along with the plaintiff have reached a dead end, henceforth it shall be filing a less than 7-page letter by both defendants. SEC is also free to respond within the requested page number limitations.
#XRPCommunity #SECGov v. #Ripple #XRP Ripple and Christian Larsen file a Letter requesting permission to file a Combined Letter Motion regarding an unidentified discovery dispute on which they have reached an impasse with the SEC. Brad Garlinghouse is not a part of this filing. pic.twitter.com/TRiJNCJfSG
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) August 31, 2021
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