XRP Lawsuit: Attorney James Filan Provides Latest Update For Ripple Defendants And Scheduling

May 9, 2022 1:45 pm Comments

Defense lawyer James Filan shares another round of updates regarding the Ripple vs. SEC lawsuit which has seen several new developments over the past couple of weeks.

Currently, Ripple is in the process of responding to the SEC’s brief which claims that the Hinman documents are protected via the attorney-client privilege.

Essentially, what this means is that the SEC is saying that the court has no right to order the production of the documents since it contains communication between the attorney and the client which makes it confidential under law.

The move was seen as a last attempt to shield the documents by many within the crypto community.

As a result, Ripple now has the ability to respond to this claim and its response is due on May 13th.

U.today reports:

Earlier, the SEC had requested to file an additional brief in support of its assertion that internal documents related to former SEC official William Hinman are protected from disclosure by attorney-client privilege; this was granted in a text-only order by Magistrate Judge Sarah Netburn.

The SEC is following its path in making new privilege assertions in a last-ditch effort to avoid the release of emails related to the 2018 Ethereum speech of William Hinman, the former director of the SEC’s Division of Corporate Finance.

In other updates shared earlier by the defense lawyer, Ripple defendants requested an extension until Friday, May 13, to respond to the SEC’s renewed assertions over the former SEC official’s emails, which was likewise granted.

After Ripple submits its response to the SEC’s brief, the SEC needs to reply to the defendants response by May 18th which is 5 days after.

Depending on how this goes, the court will finally conclude whether or not the SEC’s brief which objected to Netburn’s ruling to produce the Hinman documents will actually be successful or not.

A lot is dependent on that decision as it will either drastically accelerate the timeline of the lawsuit or it will resume the expected scheduling which at this point is expected to be either later in 2022 or early 2023.

Despite delays in the current SEC lawsuit which is quickly approaching the two year mark, it is reported that demand for Ripple’s ODL service continues to see record growth.

TheCoin.News reports:

#XRPCommunity #SECGov v. #Ripple #XRP Quick scheduling update. Ripple Defendants’ response to the SEC’s brief claiming the Hinman documents are protected by the attorney-client privilege is due Friday, May 13th. The SEC’s reply to the Ripple Defendants’ response is due May 18th.

Despite seeming delays in the lawsuit, Ripple continues to record growth in its remittance technology, reporting 8x YoY growth in ODL volumes per the recently published Q1, 2022, report.

As previously reported by U.Today, Buenos Aires-based bank Banco Galicia, which was formed way back in 1905, recently added support for XRP trading alongside other cryptocurrencies.

Time will tell how exactly the next couple of weeks will unfold for the lawsuit, but it seems like Ripple’s success overseas is already confirmed.

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