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XRP Lawsuit: Another Motion for Extension of Time Granted, SEC's Reply on Emails Due May 18

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Tue, 05/17/2022 - 11:42
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Tomiwabold Olajide
Court granted both parties' motion for an extension of time
XRP Lawsuit: Another Motion for Extension of Time Granted, SEC's Reply on Emails Due May 18
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According to James K. Filan, the court granted both parties' motion for an extension of time involving the attorney's fee related to Dr. Albert Metz's Supplemental Report in a Text Only Order, and it is now due by May 27, 2022.

Earlier in the Ripple v. SEC case, the court denied the Ripple defendants' (Brad Garlinghouse and Chris Larsen) motion to strike the Metz report while reopening discovery until May 13 to re-depose Dr. Metz. The SEC was, however, ordered to pay "reasonable expenses" regarding filing the motion and re-deposing Metz.

Dr. Albert Metz, a securities and finance specialist, filed his original report on Oct. 4, detailing an event analysis conducted to see if Ripple could manipulate the price of the XRP currency with its announcements. He concluded that the token's performance was influenced by "certain news and public statements."

Over the weekend, Ripple filed a six-page response to the SEC's assertions that the Hinman documents were protected by attorney-client privilege. In the court document, Ripple argues that the emails might not be protected by attorney-client privilege, as the SEC claims.

It pointed out the fact that the record showed that former SEC official, William Hinman, delivered the 2018 Ethereum speech in his personal capacity. Ripple also claims that the substance of his personal remarks fell outside the scope of any such attorney-client privilege.

Meanwhile, the SEC's response to the Ripple defendants' latest reply is due May 18.

Ripple earns 2022 Great Place to Work certification

Ripple has been awarded certification by Great Place to Work in the United States for its workplace culture, employee experience and leadership. Great Place to Work is the foremost authority on workplace culture, employee experience and leadership practices that have been shown to result in market-leading revenue, staff retention and greater innovation.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.