According to Stuart Alderoty, general counsel at Ripple, the defendants finally managed to get their hands on the internal emails and drafts of former U.S. Securities and Exchange Commission official William Hinman.
It took Ripple 18 months and six court orders to get access to these documents.
As reported by U.Today, the court has repeatedly rejected the SEC’s arguments about deliberative process privilege (DPP) and attorney-client privilege.
After examining the documents, Alderoty now says that it “was well worth the fight.”
He added that Ripple now feels “even better” about its legal arguments in the case. At the same time, he says that he feels even worse about the case for now.
The documents remain confidential for now due to the SEC’s request, Alderoty says.
Shocking “shamelessness”
Ripple CEO Brad Garlinghouse says that the SEC’s “shamefulness” will be shocking for those who follow the case.
“The SEC wants you to think that it cares about disclosure, transparency, and clarity. Don’t believe them,” Garlinghouse said.
The SEC has been accused of giving Ethereum preferential treatment after Hinman said that the cryptocurrency wasn’t a security in his infamous 2018 speech.
However, the regulator has distanced itself from the speech, claiming that the views of its former official do not represent those of the agency.
Tomiwabold Olajide
Denys Serhiichuk
U.Today Editorial Team
Vladislav Sopov
Dan Burgin