XRP SEC Lawsuit News: The U.S. SEC got its motion granted for additional time to file reply briefs in the Ripple (XRP) lawsuit. The United States District Judge granted the SEC’s motion to extend time for all parties to file reply briefs. The U.S. Securities and Exchange Commission had earlier requested the court to modify orders for filing replies to parties’ motions for summary judgement. The SEC also sought extension of time for filing motions to seal the summary judgement materials.
Earlier, attorney James Deaton informed the SEC filed a motion to extend the time to file all parties’ reply briefs. Recently, Veri DAO filed a request to submit an amicus brief in the SEC Vs Ripple case. Members of Veri DAO had the unique experience of facing an SEC lawsuit in 2019. Earlier, Cryptillian Payment Systems, an online digital wallet service, asked for the court to file amicus brief in the XRP lawsuit.
New Deadlines To File Reply Briefs & Amicus Briefs
The SEC requested that the date for parties to file their sealed replies to be extended to November 30. Also, it asked for the deadline for filing additional amicus motions to be set for November 11. The court has accordingly accepted the SEC’s request and extended the time for filing the replies. As per details shared by defense lawyer James Filan,
“Reply Briefs are now due November 30, 2022 and the deadline for filing Amicus Briefs is November 11, 2022.”
Timeline For Ruling in XRP Lawsuit
Earlier, the XRP community was expecting that a ruling on the SEC’s and Ripple’s motions for summary judgment would be passed by November 18. Now that the reply briefs submission date has been extended to November 30, it remains to be seen how it unfolds. As of writing, XRP price stands at $0.4937, up 7.97% in the last 24 hours, according to price tracking platform CoinMarketCap.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.