The ongoing lawsuit between the U.S. Securities and Exchange Commission (SEC) and the Ripple Labs recently presented a new update, the SEC held the presentation of an opening summary related to institutional sales of the XRP token.
The US regulator submitted its opening summary and solution-related supporting documents to the process “under seal” on March 22, according to a post on Platform X shared by legal expert James K.Filan recently.
As the lawyer explained, the documents presented “are not yet public” and the SEC will still present the “public and redacted versions” by March 26, 2024. The company will have until April 22, 2024 to submit its opposition request, and the SEC’s response should take place on May 6, 2024.
“SEC submitted, under seal, its opening summary and supporting documents related to the remedies. These documents are not yet public. Edited public versions will be archived by Tuesday, March 26, 2024,” he wrote.
#XRPCommunity #SECGov v. #Ripple #XRP The @SECGov has filed, under seal, its opening remedies-related brief and supporting documents. These documents are not public yet. Public, redacted versions will be filed no later than Tuesday, March 26, 2024.
- James K. Filan 🇺🇸🇮🇪 (@FilanLaw) March 22, 2024
It is worth remembering that in January, the SEC filed an SEC request to extend several deadlines in the case. The regulator asked that the deadlines for the solution briefing be changed. The order included the deadline for opening the SEC's briefing by March 22 of this year, the deadline for the company's opposition briefing by April 22, 2024, and the regulator's deadline for filing its response brief by May 6 2024.
The SEC sued Ripple on allegations that the company violated US securities laws by selling its native token, XRP, as an unregistered security.
