Ripple Court Drama: Justin Keener's "Decisive Evidence" Rejected... Again
SEC Files Countersuit in Ripple Legal Dispute
In the latest twist of the SEC vs Ripple case, the U.S. Securities and Exchange Commission (SEC) has thrown a spanner in the works by opposing the second request for "decisive evidence" by Justin Keener. This request, if granted, would have provided Keener's evidence to support the Ripple's claim.
The SEC argues that the court lacks jurisdiction to consider Keener's request, as the summary judgment is still pending in the Second Circuit Court of Appeals. Moreover, Keener has never moved to intervene in the lawsuit, and his request serves no purpose in resolving similar arguments filed by Ripple for summary judgment.
Keener's Persistent Pursuit of "Decisive Evidence"
Keener, a private individual, had previously attempted to submit a document he called "decisive evidence" in April. However, the court rejected his request, citing his lack of standing as a non-party. Undeterred, Keener resubmitted his request, prompting the SEC to file opposition to it.
Keener's filings have sparked debate among legal experts. Bill Morgan, an XRP lawyer, believes that Keener's actions could potentially disrupt the orderly conduct of the case and confuse the record. In addition, Keener was recently fined $10 million for unrelated securities law violations, which may further diminish the credibility of his interventions in the Ripple case.
Upcoming Deadline and Potential Developments
As the court of appeals for the Second Circuit granted a joint request to temporarily pause the XRP lawsuit appeal for 60 days, a significant development in the case may occur before June 16. Legal experts, including XRP lawyer Bill Morgan, anticipate this could be a settlement or another procedural update, though the exact nature remains uncertain.
In the midst of this courtroom drama, it's clear that the SEC vs Ripple case is far from over. With each move and countermove, the outcome becomes more unpredictable. Stay tuned for the latest updates as the June 16 deadline swiftly approaches.
Despite Keener's resubmitted request for "decisive evidence" in the Ripple case, the SEC argues that it serves no purpose in resolving the ongoing legal dispute. Moreover, the ongoing business implications of this case extend beyond the courtroom, as decisions made could significantly impact the finance sector, including Ripple's future in the digital currency market.
