The legal team for Ripple recently claimed that the US Securities and Exchange Commission wants to restart discovery in the case in a letter to Magistrate Judge Sarah Netburn.
The defendants have asked the court’s approval to serve non-party subpoenas in order to get copies of a number of videotapes in which the agency’s representatives are heard making public statements.
Users are not allowed to obtain unauthorized copies of the videos from the video hosting services.
As a result, in order for Ripple’s legal team to be able to retrieve the necessary material, subpoenas must now be issued.
The materials will be authenticated by the SEC when the defendants’ motion to serve subpoenas on the relevant firms is granted by the court.
SECs request in the Ripple case might not get the green flag
The SEC, however, is probably not going to get the green signal for the request. To serve its own set of subpoenas and get copies of some recordings in defense of its own claims, the plaintiff requests that the court resume discovery.
Since the SEC did not serve any petitions for admission during the discovery process, the defendants contend that the demands made by the agency are “improper.”
The defendants are not requesting to reopen discovery, according to Ripple, so there is no “timeliness concern” with its own request.
The SEC has been accused by the defendants of stalling the case on many occasions. The business has so far spent more than $100 million on legal bills in its legal spat with the regulator, as per Ripple CEO Brad Garlinghouse.
Now that the lawsuit between Ripple and the SEC, or vice versa, has reached an unpleasant level, it may not end well for this lengthy trial.
Given that the company’s scope of operation includes the entire globe and that the procedure, no matter how it turns out, won’t significantly restrict Ripple’s potential, perhaps this is the best course of action.