The U.S. Securities and Exchange Commission (SEC) has received approval from the court to extend the time for all parties to submit reply briefs, in the ongoing lawsuit the SEC filed in 2020 against Ripple Labs Inc.
See related article: SEC takes no position on two motions in support of Ripple in XRP lawsuit
Fast facts
- District Judge Analisa Torres of the U.S. District Court for the Southern District of New York on Friday granted the SEC’s request to extend the date for all parties to file reply briefs from Nov. 15 to Nov. 30, and modify the page limit for reply briefs from 45 to 55 pages.
- That came after a number of crypto firms and organizations, including crypto exchange Coinbase, recently sought permission from the court to file an amicus brief to support Ripple.
- In December 2020, the SEC filed a lawsuit against Ripple and its executives, alleging the sale of XRP constituted an offering of unregistered securities worth over US$1.38 billion.
- An amicus brief is typically submitted by an individual or organization that is not a party to a case but intended to influence the court’s decision.
- On Thursday, Veri DAO, a decentralized autonomous organization composed of media personalities and entrepreneurs, also filed a motion to submit an amicus brief to support Ripple.
See related article: What is XRP and what is Ripple?