The Securities and Exchange Commission (SEC) is requesting that the court seal its opposition to the amicus brief of one of its experts, Patrick Doody.
According to a motion filed yesterday, the SEC, which was supposed to file its opposition to attorney John Deaton’s request to represent 67,300 XRP holders in the upcoming expert challenge, has asked the court to keep its objection confidential.
“Plaintiff Securities and Exchange Commission respectfully requests that the court order the sealing of the SEC’s letter in opposition to the motion by six XRP investors to file a brief regarding the opinion of one of the SEC’s experts [Doody],” excerpt of the recent motion reads.
Reason for the Motion
The SEC noted that it requested the sealing of its objection to the amicus brief of Doody based on the circumstances cited in the motion.
Furthermore, the SEC added that further additional public filings related to Doody’s testimony could result in troubling developments.
“Given the serious concerns identified in the opposition brief, and because the movants are not participants in this litigation, the SEC will respectfully await the court’s decision on this motion to seal before providing movants with a copy of its opposition brief,” the SEC stated.
The SEC is also seeking that the court order the six XRP investors and attorney Deaton to refrain from disclosing the content of its opposition brief to the public to prevent an exacerbation of troubling developments in the matter.
Ripple Objects to the Motion
Meanwhile, Ripple and Individual Defendants Brad Garlinghouse and Chris Larsen are not in support of the Securities and Exchange Commission’s motion to keep their opposition brief away from the public, the SEC added.
Reacting to the development, attorney Deaton, who was granted amicus status to represent XRP investors in the lawsuit, stated that the SEC wants to keep its opposition confidential because of Doody’s safety.
“I sure hope no #XRPHolder has contacted or threatened Mr. Doody in any way,” attorney Deaton added.
SEC Not in Support of Attorney Deaton’s Participation
Following attorney Deaton’s request to represent 67,300 XRP holders and file a brief in response to Mr. Doody’s expert testimony, the SEC has consistently kicked against the move.
The SEC, which expressly disagreed that attorney Deaton should get involved in the expert challenge, requested that the court grant it an extension to file an objection.
The deadline for the SEC’s objection was yesterday; however, the SEC does not want details of its motion against the amicus brief to be made public.
Meanwhile, Mr. Doody’s testimony is an integral part of the lawsuit, as he is expected to prove that XRP investors were influenced to purchase the tokens in 2013 with an expectation of making huge gains.
The SEC just filed a motion to seal its opposition to the amicus brief of Patrick Doody. They are citing as a basis witness safety. I sure hope no #XRPHolder has contacted or threatened Mr. Doody in anyway. pic.twitter.com/vdZIgQwtZW
— John E Deaton (@JohnEDeaton1) June 8, 2022