{"id":36983,"date":"2024-01-25T08:08:27","date_gmt":"2024-01-25T08:08:27","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2024\/01\/25\/ripple-sends-letter-to-judge-netburn-over-secs-factual-mischaracterization\/"},"modified":"2024-01-25T08:08:27","modified_gmt":"2024-01-25T08:08:27","slug":"ripple-sends-letter-to-judge-netburn-over-secs-factual-mischaracterization","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2024\/01\/25\/ripple-sends-letter-to-judge-netburn-over-secs-factual-mischaracterization\/","title":{"rendered":"Ripple Sends Letter To Judge Netburn Over SEC’s “Factual Mischaracterization”"},"content":{"rendered":"

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In the newest improvement within the U.S. Securities and Exchange Commission (SEC) v. Ripple Labs lawsuit relating to the movement to compel remedies-related discovery, Ripple requests the courtroom for a sur-reply to right a big factual mischaracterization made by the securities regulator.<\/p>\n

The transfer comes after the SEC\u2019s<\/a> replied in help of its movement to compel. The SEC seeks Ripple\u2019s audited monetary statements for 2 years, post-complaint contracts for the sale or switch of XRP to \u201cnon-employee counterparties\u201d, and particulars on the quantity of \u201cXRP Institutional Sales proceeds\u201d.<\/p>\n

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Ripple\u2019s Reply To SEC\u2019s False Misstatements<\/h2>\n

Ripple sends letter<\/a> to Magistrate Judge Sarah Netburn to right factual mischaracterization within the SEC\u2019s reply in help of its movement to compel, as per courtroom filings late January 24. Ripple provides that the courtroom would largely profit from the sur-reply as it’ll make clear the problems in dispute, permitting the courtroom to rule on an correct report.<\/p>\n

In an exhibit hooked up to the sur-reply request, defendant Ripple Labs attorneys allege that they don’t agree with many contentions within the SEC\u2019s reply. However, Ripple solely to right a big misstatement of truth by the SEC this time.<\/p>\n

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Ripple mentioned the SEC claims that Riplpe \u201cdoes not \u2026 argue that it would be burdened in producing\u201d post-complaint contracts, which is fake. Ripple<\/a> in its objection particularly identified that the SEC\u2019s request is \u201coverly burdensome,\u201d and would require a whole new trial.<\/p>\n

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The SEC\u2019s assertion \u2014 Ripple \u201crecently catalogued and presumably produced, in the ongoing class action suit, all of Ripple\u2019s XRP sales contracts from 2020 to June 2023, including determining the identity of the counterparties to those contracts\u201d is a misstatement.<\/p>\n

Moreover, the declaration of Carolyn Dicharry in Zakinov v. Ripple Labs can also be false. The firm doesn’t produce any contracts after December 22, 2020.<\/p>\n

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Pro-XRP lawyer\u00a0Bill Morgan<\/strong> reacted to vital factual mischaracterization by the SEC relating to post-complaint contracts Ripple had disclosed within the Zakinov lawsuit. \u201cNo way. The SEC wouldn\u2019t do that. Surely not?\u201d<\/p>\n

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