The SEC is trying to extend the pre-trial discovery phase by two months, signaling that no deal is likely at this time.
The US Securities and Exchange Commission (SEC) is seeking a 60-day discovery extension for the Ripple lawsuit from Federal Judge Analisa Torres. The SEC has already conducted two days of deposition and witness interviews. He claims he needs additional time for the remaining eight statements. It is also seeking orders to testify from six more witnesses, as reported by U.Today.
Additionally, the regulatory observer needs more time to receive and review Ripple’s document before the aforementioned statements are made.
In the SEC’s view, granting the two-month extension is the “most equitable and efficient way” to address remaining exploration issues:
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