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XRP Lawsuit: Ripple Scores Minor Win on This — Details

Sat, 08/27/2022 - 13:16
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Tomiwabold Olajide
SEC does not oppose defendants' motion
XRP Lawsuit: Ripple Scores Minor Win on This — Details
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Ripple gained a small victory in its pursuit of protection for nonparties that appear in the Daubert challenge motions, as the SEC indicated no objection to its motion.

According to updates shared by James K. Filan, "The SEC, for purposes of Daubert motions only, doesn't object to Ripple's request to seal (1) identities of non-parties; (2) identities of certain Ripple employees; and (3) personal financial information for a Ripple employee."

Earlier, Ripple sought permission from the court to seal the identities of nonparties, including digital asset participants and Ripple business partners, and likewise, Ripple employees that appear in the Daubert motions.

In a response submitted to Judge Torres by the agency on Ripple's sealing requests, the SEC stated: "Based on the defendants' representations that they consider the standards of the sealing for Daubert motions to be different than from summary judgment motions, the SEC does not oppose the defendants' motion."

It continues, "In doing so, the SEC does not concede that the above categories of information should be properly sealed for summary judgment briefing and reserves its right to oppose similar sealing requests for summary judgment."

This seems to support the scenario John Deaton, the founder of CryptoLaw, mentioned may occur after the summary judgment briefings are made public. Deaton anticipates the disclosure of evidence that most are unaware of, such as the testimony of former SEC officials and Ripple executives.

Ripple Lawsuit: John Deaton Predicts Shocking Thing That Might Happen After Summary Judgment Briefings

Ripple also scored a minor win earlier as Judge Netburn granted the Ripple defendants' motion to serve two subpoenas to authenticate videos of seven SEC officials' public remarks and ignored the SEC's claim that the defendants were trying to reopen fact discovery.

Key times coming up in lawsuit

According to James K. Filan's most recent update schedule, the remaining months of 2022, based on impending decisions and motions to be filed, might be key times in the court case. By Sept. 13, motions for summary judgment are anticipated.

Before Judge Torres makes her final ruling, opposition to summary judgment briefings must be sent by Oct. 18 and must be answered by Nov. 15. According to Filan, Judge Torres' decision on expert motions and summary judgment might be rendered on or before March 31, 2023.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.