Court Denies SEC’s Motion to Seal in Ripple vs SEC Litigation

  • A well-known lawyer, James Filan, tweeted about this filing on June 10.
  • Defendant requested that Judge Netburn investigate OIEA and FinHub’s enquiries.

Every day, new documents have been filed in the lawsuit between the SEC and Ripple, a San Francisco-based fintech company. However, the Plaintiff’s (U.S. SEC) efforts to prolong the case continue to align or follow the same pattern.

SEC’s attempt to seal its objection to the amicus request to represent 67,300 XRP holders in Patrick Doody’s expert witness challenge was rejected by Ripple and Individual Defendants Chris Larsen and Brad Garlinghouse, according to a filing.

SEC Asked to Submit Proposed Redactions

In response to a testimony by an SEC expert witness, Patrick Doody, whose report was intended to explain why XRP holders purchased the token, this reaction emerged. In the same way, Deaton, as previously noted, aimed to represent members of the local community involved in the case.

It seems, however, that even the Court has had enough at this point. The Court refused the SEC’s request to seal the document above in a June 10 filing. A well-known lawyer, James Filan, tweeted about this filing on June 10. SEC must also submit a letter by June 14 2022, outlining its proposed redactions and stating which documents are to be sealed. According to the Court, the SEC went too far to seal Ripple’s transaction data.

This might be a significant factor in the resurgence of interest in XRP. Additionally, Ripple Labs responded to the SEC’s flaws in its replies to the Ripple Defendants’ Fourth Set of RFAs, which the company submitted. Defendant requested that Judge Netburn investigate OIEA and FinHub’s enquiries concerning XRP. As a result, Plaintiff is under pressure.

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An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.