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Ripple v. SEC: James K. Filan Discusses Lawsuit's Next Steps

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Wed, 7/09/2022 - 12:38
Ripple v. SEC: James K. Filan Discusses Lawsuit's Next Steps
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According to James K. Filan, there are still many disputes in the Ripple lawsuit that is in the process of being briefed. The motions to exclude expert testimony ("Daubert" challenges) were filed under seal on July 12, but disputes regarding sealing the motions and the expert reports and deposition transcripts remain unsettled.

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The motion to seal portions of the opposition has been fully briefed, but the motions to seal portions of the exclusion motion replies are expected by Sept. 9, while responses must be filed by Sept. 16.

Regarding the DPP and the attorney-client battle over former SEC official William Hinman's documents, the decision on the SEC’s objection is currently pending as the matter is fully briefed.

Ripple presently awaits a decision by District Judge Torres. In the case of the SEC losing privilege issues before Judge Torres, Filan predicts that there are chances that the SEC might try to file a motion for certification of an interlocutory appeal to the second circuit, which may stretch out the resolution of the Hinman email issue longer than expected.

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He seems optimistic that Judge Torres may not grant this certification to the SEC. In that event, the SEC may seek to maneuver its way to the second circuit through a petition for a Writ of Mandamus, which takes time to decide.

Filan wrote, "The bottom line is I believe we are a long way from seeing the Hinman documents, although I cannot predict exactly when. I’m simply saying settle in because it’s going to take more time than you want."

Summary judgment briefings

The key date for motions for summary judgment remains Sept. 13, while opposition to this set of motions is to be filed by Oct. 18. Replies are expected to come in by Nov. 15, by which time all briefings will be completed and Judge Torres's final decision will be awaited.

Just like the expert challenge motions, there might be similar sealing disputes regarding what will be sealed or vice versa in connection with the motions for summary judgment, so the briefings might arrive under seal temporarily before Jude Torres decides.

James K. Filan says that while he has no idea when the Hinman email dispute will be fully and finally resolved, he is sticking to his prediction that Judge Torres will decide simultaneously on expert motions and summary judgment on or before March 31, 2023.

In a response to a Twitter user, Filan hints at the possibility of the judge's decision on summary judgment without the DPP battle being resolved.

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