Ripple’s response to the SEC’s attorney-client privilege claims over William Hinman’s documents is due May 13, 2022.
As the Ripple v. SEC lawsuit drags on for more than a year, XRP investors have continued to hope that a verdict is reached at least by year end in order to see the price of the cryptocurrency stabilize or possibly record a significant surge in value if the case’s outcome favors the blockchain company.
However, a loss for Ripple could wreak further damage to the XRP price, which is around $0.56 at press time.
While motions and replies for summary judgment from both parties are slated to be concluded by mid-November, there are two important scheduling updates that XRP investors need to keep tabs on.
The update borders on the case surrounding the internal documents of SEC’s former staff William Hinman.
Recall that the agency, which claimed that Hinman’s documents reflect the former Corporation of Finance director’s personal views, saw its motion to keep the documents from Ripple’s reach, denied by Judge Sarah Netburn.
With the agency giving the approval to object to the judgment, the SEC moved again to protect the document; however, it asserted that the documents are protected by the attorney-client privilege.
According to the SEC, the 2018 Hinman document contains conversations between the SEC’s former director of corporate finance and some of the agency’s attorneys, and as such, cannot be unveiled to the public.
Two Important Schedule Updates
Ripple, which does not seem to agree with the SEC’s assertion, is currently preparing a response to the SEC’s new claim that the documents are protected by attorney-client privilege, and the reply is due by Friday, May 13, 2022.
Meanwhile, on discovering that Ripple is filing a response to its new assertions, the SEC also filed yet another motion seeking approval to support its attorney-client privilege claims over Hinman’s document.
The request, which was approved in a text-only order despite Ripple’s objection, implies that the agency’s reply brief in support of its recent claims must be filed on or before May 18, 2022.
Attorney James K. Filan tweeted about the development, informing the Ripple community about the next scheduled date in the lawsuit, saying:
“Quick scheduling update. Ripple Defendants’ response to the SEC’s brief claiming the Hinman documents are protected by the attorney-client privilege is due Friday, May 13th. The SEC’s reply to the Ripple Defendants’ response is due May 18th.”
#XRPCommunity #SECGov v. #Ripple #XRP Quick scheduling update. Ripple Defendants’ response to the SEC’s brief claiming the Hinman documents are protected by the attorney-client privilege is due Friday, May 13th. The SEC’s reply to the Ripple Defendants’ response is due May 18th.
— James K. Filan 🇺🇸🇮🇪96k+ (beware of imposters) (@FilanLaw) May 8, 2022
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