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Breaking: SEC Files Motion to Redact Portions of Key Documents in Ripple Lawsuit

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SEC Files Motion to Redact Portions of Key Documents in Ripple Lawsuit.



As sequel to a January 13, 2022 ruling on the deliberative process privilege (DPP), the Securities and Exchange Commission (SEC) has filed a motion to redact some portions of selected meetings’ notes between the agency’s third parties. 

According to the United States securities regulator, the handwritten portions of the notes it plans to conduct a redaction on are protected by the deliberative process privilege. 

“The handwritten portions in question expressly reflect either (1) the authors’ thoughts regarding subject matters discussed during meetings and/or (2) deliberations among SEC staff during meetings,” excerpts of the motion read. 

The Securities and Exchange Commission noted that it is because of the aforementioned reason it has “respectfully requests that the Court permit the proposed redactions.”

Some of the proposed redactions include Valerie Szczepanik’s notes from a February 2014 meeting, Michael Seaman’s note of an April 2018 meeting, Jonathan Ingram’s notes of the same meeting. 

The decision to grant or deny the SEC’s request for redaction will be left to Judge Sarah Netburn. 

Court Order on DPP 

On January 13, 2022, a court order granted, in part, and denied, in part Ripple and Individual Defendants’, Brad Garlinghouse and Chris Larsen, motion to compel the SEC to produce documents that the plaintiff claimed are protected by the DPP. 

The ruling, which seemed like a major win for Ripple, came after back and forth motions that lingered for over a year. 

While the court acknowledged that the DPP is qualified, it must yield to a higher interest where necessary. 

Despite the acknowledgment of the DPP, the court noted that it will determine whether disclosure of important documents is appropriate based on the relevance of the documents sought to be protected and the seriousness of the litigation among others. 

The SEC v. Ripple lawsuit has continued to linger for more than a year, with new developments unfolding by the day. 

Yesterday, the court granted the SEC’s request to extend the deadline to produce a discovery schedule.  

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The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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