tl;dr
judgment in the XRP lawsuit on July 13, 2023- SEC retracted allegations against Ripple's CEO and Executive Chairman- Trial between the SEC and Ripple set to commence on April 23, 2024SummaryIn the ongoing XRP lawsuit between Ripple Labs Inc. and the SEC, the agency has escalated its demands by seek...
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In the ongoing XRP lawsuit between Ripple Labs Inc. and the SEC, the agency has escalated its demands by seeking to compel Ripple to produce specific categories of documents related to the case. This includes financial statements for the years 2022 and 2023, as well as documentation of post-Complaint contracts governing "Institutional Sales."
Ripple has resisted these demands, arguing that they exceed the scope of discovery, while the SEC maintains that these documents are crucial for determining appropriate remedies and understanding Ripple's current financial condition. The trial is set to commence on April 23, 2024. Filed on January 11, 2024, the SEC has submitted a motion in the Southern District of New York, seeking to compel Ripple to produce two specific categories of documents. Firstly, the SEC is demanding Ripple’s financial statements for the years 2022 and 2023. Secondly, the SEC is seeking documentation of Ripple’s post-Complaint contracts governing “Institutional Sales.”
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