- Ripple argues that a continuance would reward the SEC for its gamesmanship, and further prejudice Defendants
- XRP traded around $0.835, having gained approximately 5.7 percent in the past seven days.
In the SEC vs Ripple lawsuit case, the latter’s lawyers are working tirelessly to win the case. According to the latest update, revealed by defense lawyer James K. Filan, Ripple is not happy with SEC’s time management. Notably, the cross border payment company accused SEC of late submission of Metz Supplemental Expert Report
“Ripple, Chris Larsen, and Brad Garlinghouse have filed a Letter in further support of their Motion to Strike the SEC’s late-filed Metz Supplemental Expert Report,” Filan noted via a tweet.
This is not the first time that the SEC has had to play with time in the Ripple lawsuit. As such, Ripple is not pleased with the way the SEC is extending the case. Nevertheless, the defendants are optimistic the final ruling will favor them.
“The SEC’s decision to wait until after the last deposition scheduled in this case to file Dr. Metz’s new report necessitates sanctions,” the defendants indicated.
According to the documents, Ripple argues that a continuance would reward the SEC for its gamesmanship, and further prejudice Defendants. The letter indicated;
Rule 37 sanctions specifically serve several important purposes, such as ensuring that a party will not benefit from its failure to comply, and serving as a general deterrent effect on the case at hand and other litigation,
Notably, Dr. Metz has previously faced criticism from other experts following his report on XRP price movements. According to prior proceedings, Dr. Metz was accused of not sufficiently proving that XRP price movements were driven by manipulative practices, as opposed to organic news about Ripple.
Ripple holds on strongly
Before the SEC vs Ripple lawsuit began, the company called for regulators to enact clear crypto policies. The company through its CEO Brad Garlinghouse hinted of possible relocation to another country with clear crypto policies. Nonetheless, the case came in and the company had to fight on.
A year plus later, Ripple is holding on strong and committed to helping developers on XRPL. Recently, the company committed 1 billion XRP to support developers on the chain.
Ripple will provide financial, technical, and business support to introduce several new developer programs as part of the fund. Over the next 10 to 20 years, the 1B XRP, as part of the grants program, will be disbursed to developers eager to build and scale their apps from proof-of-concept to new businesses on the XRP Ledger,
By stepping in and helping developers, Ripple is gaining crucial support from the community. Notably, XRP has managed to remain in the top ten despite the crypto evolution that has brought new projects.
Read More: Ripple commits 1B XRP to developers grant programs, XRP price up 7%
According to our data, XRP traded around $0.835, having gained approximately 5.7 percent in the past seven days.
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