Ripple Asks Court to Dismiss The SEC’s Motion to Compel

• Ripple has filed to oppose the U.S. Securities and Exchange Commission’s (SEC) motion to compel.
• According to Ripple, the SEC failed to make its requests while fact discovery was open.
• Ripple also claimed that the SEC failed to justify each of the requests on the merits.

Ripple has filed to oppose the U.S. Securities and Exchange Commission’s (SEC) motion to compel certain post-complaint discovery. In a filing dated January 19, 2024, and addressed to Hon. Sarah Netburn of the Southern District of New York, the blockchain company noted its reasons for opposing the SEC’s requests.

Ripple argued that the SEC’s requests were untimely, noting that the commission failed to make its requests while fact discovery was open. Hence, the agency lacks good cause to do so belatedly. Ripple further noted that both parties already litigated whether post-complaint discovery was proper, during which the SEC never argued that post-complaint discovery was relevant to remedies.

Another reason Ripple stated for opposing the request is the SEC’s failure to justify each of the requests on the merits. According to …

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