Judge Sarah Netburn ordered Ripple Labs to provide the US Securities and Exchange Commission (SEC) with financial statements for 2022-2023.
“At this stage, the court sees no reason to impede the investigation by refusing a request for readily available information that can serve as evidence at the stage of compensation for damages,” the decision says.
In addition, Ripple Labs is required to provide data on institutional sales of the XRP token. The deadline is February 12, 2024.
“Because the SEC has provided ample evidence that this information may assist the court in developing remedies, the company must respond,” Netburn said.
The SEC filed its reporting request in early January 2024. Ripple Labs stated that this is strictly confidential information, and the regulator’s appeal is untimely.
In July 2023, the company won a partial victory in a lawsuit from the SEC. The court found that retail sales of XRP do not violate securities laws.
However, the trial is still ongoing. The next meeting, already on the issue of institutional sales of XRP, will be held in April 2024.
Against the backdrop of the court decision, the token rate dipped slightly. At the time of writing, it is trading at $0.5, according to TradingView:
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