Last December, the SEC filed a lawsuit against Ripple alleging that the company’s sale of XRP was an unregistered securities offering worth over US$1.38 billion. ![]() “The SEC’s disproportionate request is also unreasonably duplicative of Ripple’s extensive production of over one million pages of discovery - including emails, documents, text messages, and responsive Slack messages for 33 custodians.” By custodians, the SEC means people it has identified as relevant to the case. “The SEC’s extraordinary demand calls for an extensive and costly fishing expedition that would likely take months to complete and come at very significant cost,” wrote Ripple’s defense attorneys in an Aug. ![]() Securities and Exchange Commission’s demand for 1 million employee Slack messages that related to the XRP, according to a new legal filing. Decrying what it calls a “fishing expedition,” Ripple Labs is asking a court to deny the U.S.
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