April May Be Crucial to XRP vs SEC Case
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April May Be Crucial to XRP vs SEC Case

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Bradley Garlinghouse, Christian Larsen and Ripple Labs Inc. have filed a new motion in the lawsuit against the SEC† According to the motion, they want more time to respond to the amendments to key documents proposed by the committee. The defendants want to evaluate the material so that they can see to what extent they have objections to the proposed changes.

Ripple asks for a postponement

According to the motion, the SEC will begin producing the documents early next week. Both parties have now agreed and all they need is the approval of the court. After reviewing the documents, the accused will submit a response to the court within three days.

Defendants further noted that the deadline to file their response was Monday, March 28, 2022. According to attorney James K. Filan, the court granted the individual defendants’ request for a postponement to submit their answers in a textual order. Interestingly, he also mentioned that their response should be submitted no later than April 8, 2022.

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Lawsuit will also continue in April

Previously, individual defendants in the case filed a motion to be given additional time until April 8, 2022 to file their responses to the SEC’s first amended indictment. Filan advised that the SEC’s response to the supplemental questions should be filed on April 15. The joint Proposed Scheduling Order will be filed next week on April 22, 2022.

It looks like the long-running lawsuit will continue into April as well. The committee has shifted the case by demanding several extensions, while Ripple has proposed a preliminary injunction that should be completed by mid-May.

Overall, the last 30 days have been good for Ripple’s XRP token. The currency has risen by almost 30% in recent days. The coin is trading at an average price of just over $0.83. According to CoinMarketCap, XRP is still the sixth largest cryptocurrency with a total market capitalization of over $40 billion.