Will SEC Turn Over Hinman Docs? When Is The Deadline To Reveal It?
The U.S. Securities and Exchange Commission (SEC) is still in pursuit of shielding the hugely anticipated Hinman speech and related documents in the XRP lawsuit. However, the court has already asked the commission to turn over the docs in order to resolve the matter.
Will the SEC lawsuit go on hold?
Experts have suggested that the SEC still has options to opt for after not getting the ruling in its favor regarding the Hinman memos. Judge Analisa Torres has overruled the SEC’s objection over Judge Analisa Torres’s orders. However, the SEC can go to the 2nd circuit which can keep the Hinman dispute on hold for around 2 months in the XRP lawsuit.
Attorney Jeremy Hogan has tried to clear the air over this matter. He mentioned that on September 29 overruled the SEC’s objection and asked to turn over the crucial documents. However, it did not highlight that when they have to reveal the Hinman speech memos.
This is the main reason for concern in the XRP lawsuit. The deadline becomes when an appeal of the judge’s ruling is due in the case. He added that the court is lenient over this because once the document is out there is no way to go back.
As per the attorney, the deadline here can be 60 days or maybe longer, in case the SEC decides to apply for reconsideration. However, there is a huge possibility of the commission doing that.
What if the watchdog goes for it?
However, if the SEC appeals the ruling then it is going to take a long time to figure it out. Meanwhile, if the commission decides to do that then it will like adversely binding case authority.
Matter of fact, the information that those Hinman speech emails hold is not relevant to prove that XRP is a security or not. However, it will only be relevant to the Fair Notice Defense.
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