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SEC Succeeds In Forcing Ripple to Produce Recordings of Its Internal Meetings

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Mon, 11/08/2021 - 19:30
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Alex Dovbnya
A federal judge has granted the SEC’s motion to compel Ripple to produce the recordings of its internal meetings
SEC Succeeds In Forcing Ripple to Produce Recordings of Its Internal Meetings
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Magistrate Judge Sarah Netburn has ordered Ripple to turn over audio and video-taped recordings of its internal meetings, siding with the U.S. Securities and Exchange Commission.

In her Nov. 8 order, Netburn says that the company has to undertake such efforts without a delay not to postpone the discovery deadline:

In light of the close of discovery, Ripple is order[ed] to undertake such efforts without delay.  

The parties will have to meet and confer to decide what exact recordings are the most responsive to the plaintiff’s demands.

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As reported by U.Today, the SEC filed a motion to compel the production of the recordings in late August.

After initially opposing the request, the parties reached a belated agreement in early September, with Ripple agreeing to conduct “a reasonable search” for relevant documents.

In October, however, the defendants accused the regulator of retreating on its prior position, arguing that its recordings request was “plainly disproportionate.”

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.