XRP Lawsuit: Ripple Scores Victory As SEC Is Ordered To Produce Redactions

June 11, 2022 2:29 pm Comments

Defense lawyer James Filan just shared some good news from the ongoing SEC vs. Ripple lawsuit which once again strengthens Ripple’s defense.

In the latest update, the court just denied the SEC’s request seal completely its opposition to the amicus request to participate in the Daubert challenge.

Essentially, not all the information of the brief can be protected and that only information that is necessary can be shielded.

As a result, a redacted version must be produced as the court has decided that the SEC was basically trying to seal more information than really needed which could be essential to the lawsuit.

U.today reports:

He continues, “The Court also orders that by June 14, 2022, the SEC shall file a letter explaining its proposed redactions and specifying which exhibits it seeks to seal.”

Essentially, the court agreed with Ripple and said that the SEC was trying to seal more than necessary.

Earlier, Ripple defendants filed an opposition to the SEC’s motion to seal its reply to the amicus request to participate in the Daubert hearing.

XRP friendly attorney Jeremy Hogan explains Ripple’s earlier response, hinting that the SEC does not want its expert’s physical address disclosed while “Ripple is arguing that only one document exposes the expert’s address and only that one document needs to be sealed.”

The recent court ordering is a major plus for Ripple’s legal team and has been one of their objectives for a long time.

If one takes a look at the lawsuit history, the Ripple side has always been pushing to have more transparency and information for the court while the SEC has been focused on shielding as much information as possible.

Previously, John Deaton had also made a request with an amicus brief which aims to represent the opinions of all 65k XRP holders which the SEC had denied.

They instead had trusted their own appointed SEC witness Patrick Doody who claimed to know what the XRP holders were thinking.

Clearly, the XRP community was frustrated that such a claim was made as there was no way that such a so called “expert” could rightfully represent them in court.

CryptoNewss.com reports:

Earlier, CryptoLaw founder John Deaton asked the court to file an amicus brief in a challenge by Daubert to the opinion of SEC expert witness Patrick Doody, who claimed to know what motivated the holders of XRP to buy the asset.

The United States Securities and Exchange Commission then notified the court of its objection to the amicus request authorization requested by the XRP holders.

Federal Judge Sarah Netburn held an in-person conference call on Tuesday to discuss the release of the Hinman documents.

According to Fox correspondents Eleanor Terrett and Charles Gasparino, the Ripple lawsuit could come down to a speech given by former Securities and Exchange Commission official William “Bill” Hinman four years ago.

As the lawsuit continues to make progress, the current market provides a major buying opportunity for XRP investors before the lawsuit actually concludes.

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