SEC backer Accredify was unable to submit its official summary to court by the stipulated deadline.
The US Securities and Exchange Commission (SEC) has sued Ripple for allegedly selling unregistered securities of XRP. In this struggle, which has been going on for about 2 years, a decision has not been reached yet. Supporters had recently joined the lawsuit for both parties, and a court approval was given for the submissions of supporters’ summaries. But one of the SEC backers failed to benefit from this approval.
SEC Supporter Failed to Submit Summary to Court
In the SEC and Ripple lawsuit, SEC backer Accredify (now InvestReady) failed to submit its official summary by the anticipated deadline.
Attorney Jeremy Hogan drew attention to this issue while sharing James K. Filan’s update on the summaries submitted so far.
Accredify failed to file its Amicus Brief on behalf of the SEC by the deadline last night.
So that leaves the final tally at 14 for Ripple and 1 for the SEC.
For you Americans: Ripple scored 2 touchdowns and the SEC got a…one point safety? https://t.co/wGFfn4GNWR
— Jeremy Hogan (@attorneyjeremy1) November 19, 2022
One day before the deadline for requests to submit an amicus summary, firm Accredify, which helps verify investors’ eligibility for online capital investments, has sought permission from the court to submit an amicus summary to support the SEC’s request for summary judgment. However, InvestReady (Acredify) was unable to present its official briefing as it did not meet the November 18 deadline.
The new Sports Economics Institute (NSEI) has officially presented its summary as the SEC side. On the Ripple side, 14 official abstracts were submitted by different organizations such as the Digital Chamber of Commerce, TapJets, I-Remit, and Coinbase.
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