May 3, 2021 04:01 GMTCrypto News
Prior to the latest discovery hearing, the SEC sent out requests to foreign regulators to seek documents related to Ripple from their respective countries.
The blockchain firm believes that the financial watchdog exercised the weight of the US government, arguing that the memoranda of understanding are compulsory.
The Judge has yet to provide a ruling after a case precedent was introduced to the lawsuit.
While Ripple executives Brad Garlinghouse and Chris Larsen filed motions to dismiss the Securities and Exchange Commission (SEC) case, there is still a month before it would be decided.
SEC attempted to gain an unfair advantage
Ripple argues SEC leveraged the power of US government in latest discovery hearing fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.
Jeremy Hogan, Parnter at
CryptoLaw has shared American Fintech Ripple’s response to the
US Securities and Exchange Commission’s (SEC) letter which is disputing (essentially) “parts of the Court Order” from earlier in April 2021 that are “related to internal communications.”
CryptoLaw posted Ripple s response to SEC s letter disputing (essentially) parts of the Court Order from earlier this month related to internal communications. It is CLEAR that the SEC has failed in good faith to comply with at least a part of the Order. If I was Judge…(cont d) https://t.co/IJFjgEles0
According to Hogan, it’s quite clear that the SEC has “failed in good faith to comply with at least a part of the Order.” Hogan also noted that if he was the Judge in this matter, then the SEC attorney would “leave the hearing on this with red ears if not sanctions of some sort.”
IN THIS ISSUE
Biogen Inc. Wins Some, Loses Some, In Delaware Chancery Court Corporate Records Suit; Southern District of Florida Dismisses Securities Fraud Class Action Against Norwegian Cruise Lines Stemming From Alleged Impacts of Covid-19; Ninth Circuit Affirms Dismissal of Securities Fraud Class Action Against Investment Bank; In SEC Enforcement Action Against Ripple Labs, Inc., S.D.N.Y. Court Orders Government To Turn Over Documents Discussing Whether Bitcoin, Ether, or XRP Are “Securities”; In Unusual About-Face, Federal Prosecutors Drop Securities Fraud Case Against Former Brixmor Property Group Inc. Executives.
On April 14, 2021, in
Melvin Gross v. Biogen Inc., C.A No. 2020-0096 (Del. Ch), Vice Chancellor Paul A. Fioravanti issued a post-trial opinion granting Biogen Inc. (“Biogen”) stockholder, Melvin Gross (“Gross”), the ability to inspect a wide range of the company’s books and records, while denying him access to others. Specifically, the court held