Court Grants SEC A Chance to Propose Redactions to Ripple’s Response Letter Before It Goes Public
Court Orders SEC to Propose Redactions to Ripple’s Response Before It Goes Public.
The SEC has been given a chance to make proposed redactions to Ripple’s response to its objection to amici’s request to participate in the upcoming expert challenge.
Following Ripple’s request to have its response to the SEC’s objection to Amici’s participation in the ongoing lawsuit filed publicly, the court said it would only allow the Defendants to file a response in the public docket after the Securities and Exchange Commission has made proposed redactions to the blockchain company’s reply.
According to a recent order, the Securities and Exchange Commission is instructed to go through Defendant’s response and make proposed redactions by June 23, 2022.
If the SEC has any proposed redaction to Ripple’s reply, the SEC will be required to submit a letter explaining why it does not want some of the portions of Defendant’s response to its amici’s objection filed in the public docket.
“Accordingly by June 23, 2022, the SEC shall file any proposed redactions to Defendant’s response and a letter explaining its proposal,” Judge Analisa Torres ordered.
The court’s order was shared by attorney James K. Filan on his Twitter page, who explained the development, saying:
“Judge Torres is saying that before she lets the Defendants file the response publicly, the SEC gets a chance to say if there is something in the response that should not be public and why. She wants to see what the SEC wants redacting and then rule on everything at the same time.”
Judge Torres is saying that before she lets the Defendants file the response publicly, the SEC gets chance to say if there is something in the response that should not be public and why. She wants to see what the SEC wants redacted and then rule on everything at the same time.
— James K. Filan 🇺🇸🇮🇪103k+ (beware of imposters) (@FilanLaw) June 21, 2022
Ripple Wants Its Response to the SEC Filed Publicly
The development comes less than two weeks after Ripple and Individual Defendants, Chris Larsen and Brad Garlinghouse, requested that the court publicize its response to the Securities and Exchange Commission’s objection to amici’s participation in the upcoming Daubert challenge.
Defendants noted at the time that although it filed its response to the SEC’s objection to Amici’s participation under seal, it is open to having the response filed in the public docket.
“We filed our response under seal today out of deference to the court’s forthcoming ruling on the SEC’s still-unresolved motion to seal […] We respectfully request that our entire response letter be filed on the public docket with the exception of the redactions of the experts’ name”
Ripple Disagrees With the SEC’s Move to Seal Its Amici Objection
Recall that the SEC requested to file under seal its objection to amici’s request to participate in the Daubert challenge. The agency noted that its decision to file its opposition to amici’s participation in the Daubert challenge is part of an effort to protect the expert from any form of attack and harassment from XRP investors directly affected in the ongoing lawsuit.
However, Ripple did not think the reason cited by the SEC to file its entire objection under seal is sufficient enough, thus prompting the court to request that the agency make a proposed redaction to the sections, which have the tendency of jeopardizing the expert’s safety.
Back to the list