In the latest development in the SEC vs. Ripple case, the Securities and Exchange Commission (SEC) filed opposition to reject nonparty Justin Keener’s second request for “decisive evidence.” The SEC requested the court to reject it due to the lack of jurisdiction and pending appeal in the Second Circuit.
Notably, the court is yet to issue an order based on the previous request by the nonparty for “decisive evidence” favoring Ripple.
US SEC Files Opposition in Ripple Lawsuit
According to a court filing late June 4, the U.S. SEC opposed the “Emergency Request of Decisive Evidence” by nonparty Justin Keener. The agency requested Judge Analisa Torres to deny the original and current request by Justin Keener.
The SEC cited three reasons the court must deny such requests by any nonparty. These are:
- This court lacks jurisdiction to consider the request, as the summary judgment is still pending in the Second Circuit Court of Appeals
- Keener never moved to intervene in the lawsuit and court had denied intervention motion by nonparties earlier
- Keener is free to share evidence with Ripple to let them decide if the evidence is relevant to present in the court.
In addition, the SEC claims the current request serves no purpose in resolving similar arguments about “investment contract” filed by Ripple for summary judgment.
“Even if this case were still in the summary judgment stage, the SEC respectfully suggests that the “evidence” Mr. Keener now proffers would not materially impact this litigation.”
Lawyers’ Remark on the XRP Lawsuit
While the SEC dropped the lawsuit against Ripple in March, the reluctance to fully dismiss the case, in accordance with court procedure, and the indicative ruling motion denied by Judge Torres have delayed the XRP lawsuit.
Meanwhile, lawyer Fred Rispoli, in a post on X, said there’s no refiling by the SEC or Ripple in district court, while the June 16 deadline for the status update in the 2nd Circuit looms. He added that the 2nd Circuit will likely push it out another 60 days if there’s a motion pending before Judge Torres at the time of the status report deadline.
