2021-03-23 17:00:31
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The legal team of Ripple executives Brad Garlinghouse and Chris Larsen have argued that the U.S. Securities & Exchange Commission (SEC) investigation of their client’s personal finances is unrelated. to an ongoing lawsuit.
In response to a request made on March 11, the attorneys of Ripple Labs co-founders Garlinghouse and Larsen have requested a protective order regarding the personal financial information of the two CEOs.
The legal team rejected the SEC’s request to provide personal financial information as part of an ongoing investigation and ordered the court to dismiss the subpoena issued to six of its banks. the accused.
The profile clearly states:
SEC’s multifaceted attempt to access defendant’s personal financial information in a non-fraudulent lawsuit, while defendants have agreed to provide relevant information about alleged illegal transactions. This is an overly inappropriate approach.
The legal team has carefully made clear that Garlinghouse and Larsen are willing to provide financial information related to the sale of XRP and other transactions related to the lawsuit brought by the SEC.
Speaking to CoinTelegraph, lawyer Anderson Kill said personal finances investigations are often issued to government agencies, although this is indeed an act of infringement. But he said a personal financial investigation may be needed for an ongoing (SEC’s) investigation.
He continued:
In this case, personal financial records appear to be the document for the investigation. I am not surprised that Garlinghouse and Larsen are repelling this action, but I would be surprised if they succeed.
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