Ripple Vs SEC: Court Orders SEC To Submit Proposed Redactions

As expected, April is turning out to be a crucial month for the Ripple Vs U.S. Securities and Exchange Commission (SEC) lawsuit. Judge Sarah Netburn reviewed SEC’s request to leave the redacted portions of handwritten notes by SEC staff. Now, the Court has ordered the commission to submit proposed redactions for in camera review by April 8, 2022.

SEC cannot oppose Court’s ruling

The defendants in the case have already informed the court that they were relying on the court’s review and the commission’s portrayal of these notes. Now, the court will decide whether those memos from the meeting are a reflection of the author’s own thinking or discussion among the agency’s staff.

Interestingly, attorney James K Filan has shared a part of Judge Netburn’s ruling from January 13 regarding these notes. The decree mentions SEC may have to leave the redacted portions if the courts discover a reflection of the authors’ thinking or deliberations among agency officials. The judgment mentions that SEC has not registered any declaration about the method adopted for recording these notes.

It added that the notes do not suggest that some facts were recorded while some others were left out purposely. The memos do not appear to reflect any personal or author’s commentary. In the end, the court’s interpretation does not see any attorney-client communications in the notes.

Filan also informed that SEC cannot oppose the review decision as the Judge did what the commission offered them to do. The January 13 ruling mentions that privilege cannot stop these notes from production.

The Ripple and XRP community has faced many delays in the lawsuit over different matters. Filan reminded that decisions over the motion for reconsideration, to strike the supplemental expert report and compel revelation of Estabrook notes are still pending. The redaction of these notes just added to the list.