Exchange News- LBRY has filed a Motion of Oral Argument in Aid to Limit the SEC’s Remedies.
- LBRY has requested that the court consider and grant the current Motion.
In this complaint, LBRY has filed a Motion for Expedited Consideration of an Oral Argument in Aid of its Motion to Limit the SEC’s Remedies. They also mention the court proceeding in the United States District Court for the District of New Hampshire.
#XRPCommunity #SECGov v. #Ripple #XRP #LBRY In the #LBRY case, LBRY has filed a Motion for Expedited Consideration of and Oral Argument for its Motion to Limit the SEC’s Remedies. pic.twitter.com/GjvVA4zjQG
— James K. Filan 🇺🇸🇮🇪 126k (beware of imposters) (@FilanLaw) December 22, 2022
For Expedited Consideration and Oral Argument on its Motion to Limit the Commission’s Remedies. And it began on November 7 and granted summary judgment in favor of the plaintiff’s securities and exchange commission. And it went series, and on Dec 19, the commission submitted its opposition to LBRY’s Motion to Limit the Commission’s Remedies.
Furthermore, the good cause for the Expedited Consideration of the Present Motion states that a party may request expedited consideration of a motion. LBRY argues that there is good cause for the accelerated review of the current motion because it will advance the objective of the parties’ agreed-upon expedited briefing schedule that the court ordered, especially given LBRY’s ongoing difficult financial situation.
LBRY’s Motion Appeals to Limit the Commission’s Remedies
LBRY now asks expedited consideration of its Motion to limit the commission’s Remedies, in addition to earlier requesting, and to grant an expedited briefing schedule.
And, as per local rule 7.1, the court may allow oral argument after reviewing a written statement from a party detailing the reasons why oral argument may be beneficial to the court.
The SEC commission’s objections and the Amicus Curiae documents are also addressed. Because of the particular issues about gov remedies, the extent of such remedies, and how such remedies should affect the court, holders of the LBRY token, and the lack of clarity provided by the commission to the digital asset business
Finally, because of the specific nature of this Motion, there is no supporting memorandum of law, and LBRY has requested that the court consider and grant the current Motion on an expedited basis, as well as schedule the oral argument.
Source: https://thenewscrypto.com/lbry-filed-a-motion-to-restrict-the-secs-remedies/