Main navigation

SEC Wants Ripple to Provide Recordings of Discussions Related to Current Legal Disputes

News
Sat, 10/02/2021 - 16:00
article image
Yuri Molchan
Prominent corporate lawyer has shared more news on the current legal war between the US SEC and Ripple Labs
SEC Wants Ripple to Provide Recordings of Discussions Related to Current Legal Disputes
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Attorney James Filan, founder of Filan LLC based in Connecticut, has taken to Twitter to announce that the US Security and Exchange Commission has requested a conference and an order to make Ripple share all audio and video recordings of its earlier meetings.

The SEC wants to get copies of the recordings of meetings where the defendants Brandley Garlinghouse (the CEO) and Christopher Larsen (co-founder and former chief executive), as well as other high-profile employees, discussed business topics related to the current legal suit.

Related
Ripple Confirms That Press Release About SEC Settlement Is Fake

The PDF-file attached to Filan’s tweet contains a letter filed by the SEC to the court, addressing Judge Netburn. It says that on August 30, Ripple already agreed to search and produce these recordings in court. However, the SEC stated that the current search made by Ripple for these recordings is not efficient enough due to the way Ripple interprets the word “custodian” in this context.

The SEC has requested that the recordings in question should be made by custodians with a note about the topics of these discussions and whether the necessary Ripple employees were taking part in them.

The SEC claims that Ripple has misinterpreted the word "custodian" here and refuses to search the contents of these recordings.

As reported by U.Today on Friday, Ripple fintech giant dismissed the rumors about its settlement with the SEC as fake.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.