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Ripple has fired off a three-page response to the SEC's submission of proposed redactions to the SEC's letter opposing Movants' motion to file an amicus brief regarding one of the SEC's experts.
#XRPCommunity #XRP #SECGov v. #Ripple #XRP The Ripple Defendants have filed their response to the SEC’s submission of proposed redactions to the SEC’s letter opposing Movants’ motion to file an amicus brief regarding one of the SEC’s experts. pic.twitter.com/6w8Cr5m0u9
— James K. Filan 🇺🇸🇮🇪103k+ (beware of imposters) (@FilanLaw) June 15, 2022
As stated in a brief shared by defense lawyer, James K. Filan, the Ripple defendants stated no objection to the SEC's move to seal off some exhibits in their entirety, including those identifying information about the expert. It states that the SEC decided to seal the remainder of the exhibits and its proposed redactions to the opposition letter it filed. Ripple feels that the SEC "has not satisfied the standards in sealing off the documents."
Further, "the SEC has requested redactions of passages that demonstrate the weakness of the expert's analysis." These passages do not pose any safety risk but instead appear to be targeting information that would reflect weakness in the SEC's case."
In previous updates, the agency filed a letter requesting that the court seal a portion of Exhibit A to the Ripple defendants' latest filing regarding the insufficiency of the SEC's responses to the Fourth Set of Requests for Admission, to which Ripple did not object.
In May, CryptoLaw founder John Deaton requested the court to file an amicus brief to participate in a Daubert challenge relating to the opinion of expert SEC witness Patrick Doody, who claimed to know what motivated XRP holders to buy the asset. The U.S. Securities and Exchange Commission then informed the court of its opposition to the amicus request for permission requested by XRP holders.
In another update shared by James K. Filan, the court has ordered the SEC to provide to the court, by June 16, 10 additional documents for in-camera review to assist the court with its decision regarding the SEC's claims of attorney-client privilege in connection with the Hinman speech.
SEC's winning potential decreases. There would be 10 less documents in the evidentiary record for Torres (or 2nd Cir) to review, while Ripple would hammer that SEC had yet another chance to produce more docs to support its contention yet passed on the opportunity.
— Fred Rispoli (@freddyriz) June 16, 2022
Meanwhile, the XRP community continues to keep its fingers crossed regarding the Hinman email issue.
XRP-friendly attorney Fred Rispoli continues to maintain optimism regarding this and the case in general.
Arman Shirinyan
Alex Dovbnya
Dan Burgin
U.Today Editorial Team
Vladislav Sopov