S.E.C. Issues Threat In Response To Release Of Hinman Docs

December 23, 2022 12:01 pm Comments

Even this late in the ongoing lawsuit, the Securities and Exchange Commission is still fighting tooth and nail to keep the Hinman documents from the public…

Despite arguing for the confidentiality of the documents several times, the SEC is seemingly fighting a losing battle when it comes to transparency on the Hinman speech.

Now, the Securities and Exchange Commission has issued a lightly veiled threat, claiming that it will seek grounds to appeal if the Hinman documents are made public…

Ripple attorney James K. Filan shared the latest filing in the ongoing lawsuit:

Jeremy Hogan asks the question that is on the minds of many: what about the speech is so damning that the SEC is still fighting with all its vigor to suppress from the public?

According to Bitcoinist:

Another community lawyer, Bill Morgan, points out the threat the SEC is making. According to the SEC, Torres is not authorized to release the Hinman documents because they could appeal the summary judgment decision.

Further, the attorney contended that under the court’s findings, there is no privilege that can or cannot be waived. At the same time, Morgan concedes legitimacy to the SEC’s argument because the SEC could still appeal. This does not definitively settle the confidentiality issue.



Here is some biographical information on William Hinman, courtesy of the SEC:

William H. Hinman was named Director of the Division of Corporation Finance in May 2017. The Division seeks to ensure that investors are provided with material information in order to make informed investment decisions, provides interpretive assistance to companies with respect to SEC rules, and makes recommendations to the Commission regarding new and existing rules.

Before serving at the Commission, Mr. Hinman was a partner in the Silicon Valley office of Simpson Thacher & Bartlett LLP, where he practiced in the corporate finance group. He has advised issuers and underwriters in capital raising transactions and corporate acquisitions in a wide range of industries, including technology, e-commerce, and the life-sciences.

Prior to joining Simpson Thacher in 2000, Mr. Hinman was the managing partner of Shearman & Sterling’s San Francisco and Menlo Park offices. He received his B.A. from Michigan State University with honors in 1977 and his J.D. in 1980 from Cornell University Law School, where he was a member of the Editorial Board of the Cornell Law Review. He is a member of the Bar Association of the State of California and the Association of the Bar of the City of New York. Mr. Hinman also is a fellow of the American Bar Foundation.

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