Ripple Lawsuit: SEC Requests Deadline Extension for Filing Briefs

• SEC requests a one-week extension for filing briefs in the Ripple lawsuit due to discovery resolution.
• The proposed extension will shift deadlines for opening, opposition, and reply briefs in the lawsuit.
• Ripple Labs reportedly consents to the extension request but the court is yet to rule on SEC’s proposal.

According to former US federal prosecutor James K. Filan, the SEC has asked Judge Analisa Torres of the Southern District of New York to move the deadline for its opening brief from March 13th to March 22nd, 2024, extend the deadline for Ripple‘s opposition brief from April 12th to April 22nd, 2024, and push back the deadline for its reply brief from April 29th to May 6th, 2024.

The SEC has requested a one-week extension for each deadline related to filing briefs on “remedial measures” in its ongoing lawsuit against Ripple Labs, Inc.. This comes after a dispute between the parties regarding the scope of discovery was recently resolved, impacting the timeline for completing these briefs.

The SEC argues that this extension is necessary due to “good cause” under Federal Rule of Civil Procedure 16(b)(4). They claim the recent resolution of the discovery dispute impacted their ability and timeline to prepare the briefs on schedule. Ripple Labs has reportedly consented to this extension request.

The court has not yet ruled on the SEC’s request. If granted, this will shift the timeline for submitting briefs related to potential remedies in the case. The lawsuit itself is scheduled for a jury trial beginning on April 23rd, 2024.

John Deaton XRP advocate and lawyer, has been vocal about his dissatisfaction with the Securities and Exchange Commission’s (SEC) policies. In a recent post, Deaton stated that he believes the SEC is not “stupid,” but simply lacks integrity. His comments have garnered attention and sparked further discussion on the matter.