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Ripple vs. the SEC – New Developments in the Litigation

 


The US Securities and Exchange Commission filed a request on Friday to seal portions of the parties' July 12, 2022 filings. She mentioned that this is related to her motions to have expert testimony excluded.


SEC wants to hide their experts

According to the filing, the commission emphasized that it had met and consulted with the defendants. However, the SEC anticipates that Ripple and other defendants will appeal most of the SEC's proposed redactions.


It added that the redactions proposed by the agency, with a few exceptions, aim to protect the identities of the experts. The SEC reminds the court that one of the witnesses was severely threatened and harassed when the individual's name was disclosed by the attorneys.


The SEC proposed redacting the names of all experts and details such as contact information, education, and other connections. The motion said the proposed redactions are narrowly tailored to the safety of witnesses. This is the primary reason the court should allow the SEC's motion.


However, the letter also notes that defendants are seeking permission to redact details of third parties in relation to the Daubert motion. The SEC has no objection to defendants' motion to include the proposed redactions of third parties' names. However, she added that if the court decides to seal all of these details, the commission will redact them accordingly.


The court sets a deadline

Attorney James Filan said the court had set a deadline of July 28, 2022 to request the sealing of the portions relating to expert testimony. This includes waiving any appeal against the court's decision on the sealing application.


The order states that any non-party who has not obtained consent from either interested party for the proposed redacting of private details in the "Daubert Motion" must file a letter by July 28. 

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