John Deaton Says Hinman’s Docs Will Never See Light Of Day, SEC May Settle With Ripple Rather Surrendering Documents

Hinman’s Document Will Never See Light Of Day, SEC finds it better to settle with ripple rather surrendering documents.

With expectations high that the SEC will be forced to surrender Hinman’s document, attorney Deaton said the agency would rather opt for a settlement rather than make the document public.

There has been a lot of controversy surrounding former Director of the SEC’s Corporation of Finance William Hinman’s 2018 documents, which resulted in the speech that declared Ethereum (ETH) as a non-security.

Ripple is convinced that the speech would put to rest the argument that its digital currency XRP is a security. However, all efforts to obtain Hinman’s document have not yielded positive results as the SEC is not planning to surrender the file to Ripple.

Attorney Deaton Predicts Possible Outcome

Attorney John Deaton, the lawyer seeking to represent 67,000 XRP investors in the upcoming expert challenge, has given his opinion about the expected outcome of the fight over the possession of Hinman’s document.

Following the proceedings of this week’s conference between the parties, attorney Deaton noted that it is evident that Judge Sarah Netburn will order the SEC to surrender Hinman’s document.

Interestingly, the SEC’s determination to continue holding on to the document may give Ripple and XRP holders the breakthrough they need, which is an end to the more than one year lawsuit, attorney Deaton added.

Speaking in a live video, attorney Deaton said if the SEC is compelled to produce the document by Judge Sarah Netburn, the agency will immediately call for a settlement rather than to surrender Hinman’s document to Ripple.

“Those emails, those comments are never gonna see the light of day outside of SEC office. If SEC is forced to turn over those documents that’s when s settlement can happen.”

Does the #SEC settle if they lose the next ruling? @JohnEDeaton1 gives it to you straight! #Ripple #xrp @EleanorTerrett #RETWEET pic.twitter.com/8eQrYyfl9i

— Digital Perspectives (@DigPerspectives) June 7, 2022

However, if things do not go the way the Ripple community is expecting and Judge Netburn does not order the SEC to produce the document, the lawsuit will head straight to summary judgment.

Argument Over Hinman’s Document

Recall that Ripple had previously brought the matter to court, which ended in the blockchain company’s favor as the SEC was ordered on two occasions to surrender the documents.

The SEC has not relented in its quest to protect Hinman’s document from being used as evidence in the lawsuit, as it continues to take significant steps toward protecting the document.

SEC’s Effort to Protect Hinman’s Document

The Security and Exchange Commission’s recent effort to protect the document comes on the basis of attorney-client privilege.

According to the SEC, Hinman sought legal advice before he gave the 2018 speech that ultimately ruled that Ethereum is not a security.

Both parties have argued this recent assertion, prompting Judge Sarah Netburn to invite Ripple and the SEC to a conference earlier this week to discuss Hinman’s document issues.

Interestingly, from the tone of the conversation, it is obvious that the SEC is only interested in protecting the document in order to avoid any slander of its reputation.

While Judge Netburn did not have any rulings at the conference held on June 7, 2022, it is expected that following the proceedings of the conference, the SEC may be compelled to surrender the document.