NewsRipple News: Court Set to Accept SEC’s Form C Filing; Spokesperson Denies Backdating Allegations
Anjali Belgaumkar19 Oct 20242 min read
The SEC has shared details about its appeal in the Ripple XRP lawsuit, confirming its intention to challenge a recent court decision. They filed a Form C on October 16, but there’s some confusion because the court’s stamp on the document shows it was filed on October 17. This discrepancy has raised questions about the timing and ethics of the filing.
SEC’s Appeal Details and Filing Confusion
Fox Business journalist Eleanor Terrett noted that many are questioning whether the SEC missed the filing deadline. However, she clarified that an SEC spokesperson said, “It was filed on time.” Legal expert MetaLawMan mentioned that since the filing hasn’t been rejected yet, it likely means the court will accept it.
Many people have questioned whether the SEC missed its filing deadline in the Ripple XRP case, even though the SEC maintains that it filed on time. Former SEC lawyer Marc Fagel pointed out that the attachments to the filing were pulled together at 8:47 a.m. on Wednesday.
Fagel noted that it’s common for attorneys to work up until the deadline, and the timing of when documents appear on the court docket can be unclear. He said that this is simply how litigation works. If anyone has a way to change this process, many lawyers would appreciate it. Ultimately, while there’s speculation about the SEC’s filing timing, it’s important to recognize the typical practices within the legal profession.
Ripple’s Response and Legal Implications
Ripple’s CLO Stuart Alderoty reacted to the same and said, “No surprises here — once again it’s been made clear. The Court’s ruling that “XRP is not a security” is NOT being appealed. That decision stands as the law of the land.”
There are still unanswered questions about when exactly the documents were filed and when they will be publicly available, but the SEC has indicated they will be released soon.
