Despite rumors that a settlement will be reached in the near future, neither side is willing to back down in the lawsuit between the SEC and Ripple Labs. While the case is not developing in anyone’s favour, both sides continue to oppose and reject the other’s moves. The final move in the case came from the SEC.
Attorney James Filan, founder of Filan LLC, reported that the SEC requested a conference and requested that Ripple share all audio and video recordings of its previous meetings.
The SEC is seeking copies of recordings of meetings where defendants Brandley Garlinghouse (CEO) and Christopher Larsen (co-founder and former CEO) and other high-profile employees discussed current legal and business issues. Filan shared this latest development on Twitter.
#XRPCommunity #SECGov v. #Ripple #XRP SEC requests conference & order compelling Ripple to search & produce video & audio-taped recordings of Ripple meetings where Garlinghouse, Larsen & other key employees spoke on topics relevant to disputes in debate.https://t.co/DejdauSaqr
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) October 2, 2021
The PDF file attached to Filan’s tweet contains a statement sent to the court by the SEC and addressed to Judge Netburn. In this statement, it is said that on August 30, Ripple has already agreed to research and produce these records. However, the SEC claims that Ripple’s current search for these records is not efficient enough. According to the SEC, these documents submitted by Ripple were not “reasonably designed”.
In a nutshell, the SEC is requesting these records again.