Ripple’s lawyers argued that the United States Securities and Exchange Commission had more than enough chances to obtain additional documents before the deadline.
Lawyers representing Ripple Labs have argued that the United States Securities and Exchange Commission’s (SEC) request to examine additional financial documents is invalid. They argued that the deadline has passed and the material isn’t relevant to the upcoming trial in April.
In a court filing on Jan. 19, Ripple’s legal team claimed the SEC had changed its stance on collecting additional information during the discovery phase, which requires each party to share relevant documents with the other as part of the legal process.
On Jan. 11, the SEC demanded that Ripple produce audited financial statements for the financial years 2022 and 2023, disclose all contracts related to the sale or transfer of XRP (XRP) to external entities made after the initial filing, and provide additional details on the institutional sale proceeds from XRP.
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Source: https://cointelegraph.com/news/ripple-united-states-sec-request-financials