Will Hinman Conflict Delay SEC, Ripple Summary Judgement?

U.S. Securities and Exchange Commission (SEC) and Ripple defendants submitted their motions for Summary Judgement in the XRP lawsuit last month. These filed motions sent all sorts of positive among the XRP holders. However, the crucial Hinman notes are yet to be revealed in the XRP lawsuit.

XRP lawsuit ruling will be delayed?

The SEC has been very protective with its assertion over the Hinman speech and related documents. However, Judge Analisa Torres in a recent order announced a big win in the favor of Ripple and the Defendants. The judge overruling the commission’s objections asked it to turn over the documents in front of the court.

Judge Sarah Netburn has already refused the commission’s attorney-client privilege assertion. Meanwhile, the SEC in its letter asserted that Ripple and the defendants distorted their claims on the crucial memos.

The big mystery here remains whether SEC is left with any other legal option to shield its claims of the Hinman speech.

Can Watch affect Summary Judgment proceedings?

Attorney James Filan mentioned that Judge Torres is likely to work towards the Summary Judgement disregarding what’s happening with the Himan docs. He believes that the Judge wouldn’t be holding her decision. However, Ripple has already highlighted that they are already prepared to ahead on the Summary Judgement without any privilege issues resolved.

However, if the SEC wants to file a motion for reconsideration over Judge Torres’s order regarding Hinman memos then they would have to submit it by October 13. Meanwhile, the commission can also to the court of appeals directly with a petition for a writ of Mandamus.

Filan further mentioned that apart from this everything would be in Judge Torres’s hands. She can begin with Summary Judgment work after November 15, 2022. By then briefings by the parties will eventually be completed. However, proceeding with what to needs to be sealed or what should go in the public will be due.