While the ruling in favor of the SEC in this instance marks a small win, some onlookers have suggested that the enforcement body is dragging its heels and slowing the case down to frustrate Ripple Labs.
As part of the delayed schedule, the defendants now have until April 8 to submit an answer to the SEC’s complaints, while the SEC’s decision on additional discovery is due the following week on April 15, and joint proposed scheduling order is also due on April 22.
However the dates are not set in stone, and could change depending on how fast Ripple Labs moves, with Filan noting that: “The filing of the Individual Defendants’ Answer is the triggering event. When the Answer is filed, even if before April 8th, the date the Answer is filed starts the two week clock running for the filing of the SEC position on discovery and the Joint Proposed Scheduling Order.”
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