Ripple Vs SEC: Ruling On Hinman Memos Imminent

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The crucial lawsuit between US Securities and Exchange Commission (SEC) and Ripple is awaiting a decision over Hinman’s Speech. However, Attorney John Deaton has hinted that resolution over it might come by the end of this week.

Will court accept commission’s assertion?

Judge Netburn is yet to decide whether the Hinman emails and related documents come under the SEC’s proposed attorney-client privilege. While Judge Torres has to decide over the SEC’s motion to seal its opposition to XRP holders’ lawyer request to file an amicus brief. This is related to the agency’s expert witness Patrick Doody.

Eleanor Terrett, Journalist at Fox Business reported that John Deaton has informed her that decision over mentioned matters can come by this weekend. Resolution over Hinman’s speech can prove to be a big breakthrough in this long running case. SEC’s multiple assertions over the speech and its related memos have already caused much delay in the proceeding of the case.

Judge asks SEC to file proposed redaction

Meanwhile, Judge Analisa Torres has announced her response regarding the Defendants’ motion against SEC. However, the court has asked the watchdog to file a proposed redaction to Ripple’s reply. In a letter, the Judge mentioned that the court has reviewed the Defendants’ response to the SEC’s opposition brief. It added that their letter concerning the sealing of that response has also been evaluated.

Ripple’s Christian Larsen and Brad Garlinghouse, stated that they want to file their entire reply on the public docket. However, they filed it under seal due to the court’s pending ruling on the commission’s motion to seal.

Attorney James Filan in a Twitter thread informed that Judge Torres in her response has given the SEC a chance to propose its own redactions against the Defendants by June 23, 2022. The court has also asked the commission to file a letter explaining its proposal. Meanwhile, Filan highlights that the court wants to see what the authority wants to be redact and then rule according to it.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]
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