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A judge has given the Securities and Exchange Commission (SEC) two more months to conduct a deeper exploration of their case against Ripple.
XRP holders have been patiently waiting for a sign that the SEC lawsuit against Ripple is coming to an end. However, according to an announcement by attorney James K Filan, the waiting time could be a bit longer. Filan shared that the SEC’s request to extend the investigation’s discovery period by 60 days was approved.
#xrpcommmunity #SEC_NEWS v. #Ripple #XRP BREAKING. THE SEC’s REQUEST TO EXTEND DISCOVERY DEADLINE IS GRANTED. pic.twitter.com/DipS32P473
— James K. Filan (@FilanLaw) June 14, 2021
Even so, several other SEC moves that have been rejected in recent times are a relatively good signal for Ripple in general. Including the court that denied the SEC legal access as well as Ripple releasing important evidence before the SEC to “wash off” the violation of section 5 of the Securities Act.
See more: Ripple continues to “fight back” fiercely with the SEC with the desire for justice for the platform
Filan continued the announcement with another post, claiming this was a win for Ripple despite the SEC extending the time.
This is a good sign for fair defense. Judge Netburn made it clear to the SEC once again that the focus of that defense was on the activities of the SEC, not Ripple.
This is a good sign for the fair notice defense. Judge Netburn has made clear to the SEC yet again that the focus of that defense is on the activities of the SEC and not on Ripple.
— James K. Filan (@FilanLaw) June 15, 2021
In addition, attorney Jeremy Hogan said that he believes a two-month extension will push the case to 2022. A settlement is still being discussed, but that outcome is unlikely at this stage. this.
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