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Ripple wins another victory: Court rejects SEC application for sealing

 


As the Ripple community prepares for the important decision on the key ruling on the Hinman 2018 documents, Ripple Labs has claimed another victory as Presiding Judge Analisa Torres denied the SEC's request for sealing.


According to a tweet posted by defense attorney James Filan, Torres has denied the SEC's request for a seal as part of objections to the filing of a brief by six Ripple investors regarding the designation of one of the commission's experts, Patrick Doody.


“The court denied the SEC's seal request and ordered that a redacted version of the brief and evidence be filed under seal by June 14, with the information being redacted only to the extent necessary to protect the information being sealed to be submitted is required,” Flan tweeted.


Ripple objects to SEC conditions for sealing

Ripple, the United States-based cross-border payments startup, and each defendant disagreed with the SEC's conditions for sealing the documents.


The SEC's multiple and conflicting views on the speech were uncovered by Judge Netburn, as the plaintiff now alleges that notes and emails are "protected by attorney-client privilege having been denied privilege of the advisory process."


Court to SEC: Explain the changes

Based on the report, the court is asking the regulator to issue a statement by June 14 justifying the proposed redactions and specifying which documents the SEC intends to seal.


Four of the five reasons given by the SEC in its letter of formal notice “do not pose a risk to human life,” according to Ripple.


When the SEC sealed its objection to an amici request to participate in Patrick Doody's expert challenge, security was cited as the rationale. However, the blockchain company and its allies promptly refuted the SEC's arguments.


Ripple Labs and the SEC have been in a legal battle for quite some time, with new filings being made every day. It seems that even the judges are getting tired and anxious to close the case at this stage.

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