SEC Vs Ripple: Watchdog, Defendants File Motion For Summary Judgment

The SEC vs Ripple lawsuit has finally entered into its crucial Summary Judgement proceedings. Attorney James K Filan informed that both the parties in the case have submitted their motions regarding the process.

SEC Vs Ripple case to end?

The commission filed its motion for summary judgment against the Ripple and Defendants. However, the files are submitted under the seal. Attorney mentioned that the SEC has filed a declaration of Daphna A. Waxman. She was part of the team which launched the investigation over Ripple.

As per Filan, the Exhibit and sub-exhibits submitted by the Commission in the SEC vs Ripple case stand around to be 400. He highlighted that it is still unclear whether the memorandum of Law in support of the motion was filed with the motion as it is under the seal.

He added that in the Telegram case the motions were filed differently however every lawsuit is different. Filan highlighted that the commission submit its memorandum in support of its motion for the summary Judgment in the SEC Vs Ripple lawsuit. It includes declarations and statements with more than hundreds of additional exhibits.

Earlier Coingape reported that Defendants opposed the SEC’s appeal to seal doc revealing experts‘ identities.

Defendants submit motion under seal

Filan further added that Ripple and other defendants have also filed their motion for the Summary Judgement In the SEC vs Ripple lawsuit under the seal. It includes the memorandum of Law in support of the motion. While it also holds the declaration of Michael Kellogg and 106 other exhibits.

The attorney informed that the parties will be filing public redacted versions on September 19, 2022. The edited versions of the briefs are in support of the motions. However, these will be provisional redactions requested by the parties.

Meanwhile, John Deaton laid out the possibility of the commission forming a settlement in the SEC vs Ripple Case.