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#XRPCommunity #SECGov v. #Ripple #XRP 1/ I have a few thoughts on the scheduling order. A couple of weeks ago I said that I thought briefing would start in July and end in November. That’s where Judge Torres ended up, but only because that was the schedule that worked best for
2/ the Court. Separate schedules were set for the motions challenging experts and for the Summary Judgment motions. That is important because of the “6 Month Rule,” which incents Judges to decide motions within 6 months after they are filed (the clock on the rule actually starts
3/ ticking 30 days after the motion is filed so the Judges get a 30 day grace period). The “6 month lists” are published twice a year, on March 31st and September 30th, and only list motions pending longer than six months that are still pending on those dates.
#XRPCommunity #SECGov. v. #Ripple #XRP 1/ A SUMMARY JUDGMENT TIMELINE. I’m seeing a lot of discussion of timing projections for the filing of summary judgment motions and a decision on the motions. I thought I would weigh in because Judge Torres has a particular and very
2/ complicated process that must be completed before the motions for summary judgment can even be filed. The point of this thread is to help you understand that this is a longer process than you may realize.
3/ First, any party that wants to move for summary judgment has to provide the other parties an electronic copy, in Microsoft Word format, of its Statement of Material Facts pursuant to Local Rule 56.1. A Local Rule 56.1 Statement is a “short and concise statement,
#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: The Court has denied the SEC's Motion for Reconsideration of the DPP Ruling and granted the SEC's request for clarification of that ruling.
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"The SEC has identified no intervening change of controlling law or any other controlling decisions unaddressed by the Court’s January 13, 2022 Order."
"The SEC’s assertion that the Speech was intended to communicate Corporation Finance’s approach to regulating digital asset offerings is inconsistent with the SEC’s and Hinman’s previous position that the Speech was intended to and did reflect his personal views."
#XRPCommunity #XRP #SECGov v. #Ripple #XRP BREAKING: BELOW ARE THE TWO LEGAL MEMOS THAT HAVE NOW BEEN UNSEALED.
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1/5 Overall favorable to Ripple and the Individual Defendants. Both memos are from Perkins Coie. The first memo was prepared in February 2012 and sent to Jed McCaleb and Jesse Powell. It says that if NewCoin is sold in what now would look like an ICO
2/5 (I didn’t see the term ICO used), it would be likely that it would be considered a security. But Ripple then revised its business plan and went back to Perkins Coie, which issued a second memo in October 2012. This second memo was sent to Chris Larsen and Jed McCaleb.
#XRPCommunity #SECGov v. #Ripple #XRP The SEC has also requested an extension of time from Judge Torres to file objections to Judge Netburn's DPP Ruling. The SEC had two different routes to take in response to Judge Netburn's DPP ruling. First, it could request that Judge Netburn 
reconsider her ruling, or, second, it could have filed objections to Judge Netburn's ruling directly with Judge Torres, which is basically an appeal. But both the motion for reconsideration and the objections have to be filed within 14 days of Judge Netburn's original ruling.
So what the SEC is doing is asking Judge Torres to wait until 21 days after Judge Netburn rules on the motion for reconsideration before the SEC must file its objections directly with Judge Torres. The SEC is desperately trying not to have to turn over the documents to Ripple.
#XRPCommunity #SECGov v. #Ripple #XRP Due to complications related to COVID, the parties have filed a joint letter requesting until February 28, 2022 to complete expert discovery, stating that the extension, if granted, will not “impact any other deadline in the case.”
My belief is that before filing this motion the parties agreed to specific dates for every remaining expert deposition, far enough out that they believe COVID won’t be a problem, so that they could say to the Court that all expert discovery would be completed by February 28th.
I understand people are frustrated by extensions of time, and I'm seeing a lot of responses critical of Ripple et al for agreeing to this one. I have a couple of thoughts. First, we are in really weird times and we just don't know what's happening behind the scenes.
Any investor in BlackRock that has suffered losses due to their investments in Chinese companies (either here or abroad) should immediately sue or file arbitration to receive their money back. Under the cover of Afghanistan's collapse, BlackRock is tripling down on China. 1/3
Investing in Chinese securities that have VIE structures and don't submit themselves to SEC/PCAOB covered audits is indefensible in court. Now, the plaintiff's attorneys have the ability to ask the fiduciary, "Please show the court your Xi Jinping discount model."The world 2/3
