Odaily Planet Daily News: After District Judge Sarah Netburn approved the U.S. SEC's motion to force Ripple to provide 2022-2023 financial statements and post-complaint XRP institutional sales contracts, Ripple's lawyers have written to Judge Torres to submit a new motion. According to the latest court documents, although Ripple has fully complied with the order to submit 2022-2023 financial statements, post-complaint institutional sales contracts, and inquiries about the proceeds of post-complaint XRP institutional sales, the company continues to believe that this requirement is "too burdensome" and therefore requested to extend the deadline for remediation of related evidence discovery from February 12, 2024 to February 20. The company provided further evidence provided by the court earlier, claiming the right to seek an extension of any discovery period. (CoinGape) Yesterday, a U.S. district judge has ordered Ripple to provide additional information about the company's finances and XRP institutional sales, a victory for the Securities and Exchange Commission (SEC). The regulator sued Ripple more than three years ago for its claim that Ripple was not registered to sell XRP. Last year, U.S. District Court Judge Analisa Torres of the Southern District of New York ruled that sales of XRP to institutional investors were illegal securities sales, but "blind auction" sales to retail were not. On Monday, the court granted the SEC's motion requiring Ripple to provide more information so that the court can determine the appropriate penalty. The company must provide financial statements for 2022-2023 and the contracts governing institutional sales of XRP; it must also answer questions about the amount of revenue it received from institutional sales of XRP.

#SEC #Ripple