There is more news about the ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC) that sheds new light on the ongoing case. Magistrate Judge Sarah Netburn set the schedule for the latest motion in court.
Important dates for responses to motion
According to information shared by defense attorney James K. Filan, Magistrate Richter Netburn has set a schedule regarding Ripple’s Motion to Dismiss New Materials from the SEC in Support of its Motion for Injunctions and Judgment. Under this schedule, the regulator has until April 29, 2024 to respond to Ripple’s motion, after which the blockchain company will then have three working days to respond.
Ripple’s response to SEC’s claims
Ripple previously filed a Motion to Dismiss the SEC’s new so-called “expert materials,” arguing that they represent “sandbagging.” Ripple’s opposition to the SEC’s Motion for Injunctions and Judgment, in which the regulator is seeking $2 billion in damages over institutional XRP sales, states that the regulator has not demonstrated a likelihood of future violations or reckless disregard for the law.
Comments from the community
The XRP Army has responded positively to the news of Magistrate Richter Netburn’s appointment as US District Judge for the Southern District of New York. Pro-XRP attorney Bill Morgan praised her decisions in the Ripple v. SEC case and noted that she deserved her appointment.
XRP price update
At the time of writing, the over the past month, according to data from April 26.
Tags: Ripple SEC Update Magistrate Richter Sets Schedule BLOX
