In the latest twist in the SEC versus Ripple Labs legal showdown, the SEC highlighted a proposal to extend the deadline for submitting briefs relating to appeals in the current trial.
The formal request was filed before Judge Analisa Torres of the Southern District of New York, seeking to delay the SEC's opening brief until March 22.
Legal maneuvers
The move marks the first time either party has requested an extension of the remedy-related briefing schedule, with Ripple expressing consent to the proposed schedule adjustments.
The SEC's request for a deadline extension is attributed to the need for additional time to review newly produced documents and finalize the remedy briefing.
This comes after a dispute between Ripple and the SEC over the scope of discovery was resolved on February 5, leading to a one-week extension of the original discovery deadline by Magistrate Judge Netburn.
The SEC says there is “good cause” for this brief extension under Federal Rule of Civil Procedure 16(b)(4), citing diligent efforts to complete discovery and information related to appeal.
The lack of an impending trial in this case further supports the SEC's position in favor of an extension of the deadline, intended to ensure thorough preparation and review before submitting its opening brief.
The recent SEC victory
As reported by U.Today, the SEC's litigation against Ripple recently took a favorable turn, with the court forcing Ripple to disclose specific financial documents and contract details.
Despite Ripple's objections, the court found that the requested documents were essential to determining appropriate relief and assessing the need for an injunction.