In the continuing SEC vs. Ripple court docket case, the defense team has written to Judge Sarah Netburn opposing the SEC’s movement to compel the agency to provide Slack communications. They demand the manufacturing of over 1 million pages of discovery.
Slack is a proprietary message platform that includes chat rooms, personal messages, and direct messaging. It gained recognition in the course of the government-imposed lockdowns of early 2020.
At the time, many corporations have been compelled to implement work-from-home insurance policies. Slack discovered favor as a instrument to allow workers communication below these circumstances.
In bringing the movement, SEC legal professional Jorge Tenreiro put ahead the case that the Slack messages are required to construct a whole image of the case for abstract trial.
“The messages produced present Ripple staff (together with custodians whose Slack messages Ripple refuses to go looking) discussing points straight related to disputes on the coronary heart of this case.”
Ripple Defense Team Claims Slack Messages Are Irrelevant To The Dispute
On behalf of Ripple, authorized agency Debevoise & Plimpton opposed the SEC’s movement with a brand new submitting this week.
The agency labeled the SEC’s request an “extraordinary demand,” and a “pricey fishing expedition”. Adding that it could take too lengthy to finish and convey important price to their shopper.
“The SEC’s extraordinary demand requires an in depth and expensive fishing expedition that will possible take months to finish and are available at very important price.”
Ripple’s protection attorneys went on to label it “disproportionate,” and an entirely unreasonable request to demand over 1 million pages of documentation.
“The SEC’s disproportionate request can also be unreasonably duplicative of Ripple’s intensive manufacturing of over a million pages of discovery — together with emails, paperwork, textual content messages, and responsive Slack messages for 33 custodians.”
What’s extra, they argue that the SEC’s demand is additional unjustified as a result of the paperwork are usually not crucial, nor are they uniquely related to the issues of the court docket case.
“In every case, the SEC vastly overstates—and in many circumstances, misstates—the testimonial report and the potential relevance of the requested Slack messages.”
As such, Debevoise & Plimpton conclude by asking Judge Netburn to disclaim the SEC’s request.
Slack Data Collection
In addition to the above arguments, Ripple’s protection group additionally submitted a declaration from Canaan Himmelbaum. He is the Director of Global Business Development at Consilio, who operates as an information vendor for Ripple.
In it, Himmelbaum described the challenges concerned in accumulating information from the Slack platform. This consists of processing the huge volumes of information, operating into the terabytes. He additionally talked about issues associated to dealing with the custom-made modules that hinder information extraction. As nicely because the exports popping out in machine-readable JSON format, which doesn’t lend itself to human assessment.
According to the declaration, Himmelbaum estimates the whole price to satisfy the SEC’s request would come to $900,000.