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HomeCrypto NewsMarketRipple and SEC Started To File Summary Judgment Replies

Ripple and SEC Started To File Summary Judgment Replies

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The parties officially file sealed versions of summary judgment replies.

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Former federal prosecutor James K. Filan revealed that the United States Securities and Exchange Commission (SEC) and Ripple have officially filed, under seal, their respective summary judgment reply briefs.

“The parties have begun to file, UNDER SEAL, their replies to the opposition to the Motions for Summary Judgment,” Filan said.

Following the summary judgment reply briefs’ filing, the parties will meet and confer tomorrow, as stated in the updated schedule note, to identify necessary redactions in the reply briefs.

Parties Could File Redacted Replies Before Scheduled Date

After the necessary redactions, a redacted version of the summary judgment reply briefs will be filed publicly by December 5, 2022.

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“The public, redacted versions of the Replies are due by Monday, December 5th,” he added.

Interestingly, the former federal prosecutor believes there is a tendency for the public to have access to redacted versions of the parties’ replies before the scheduled date, December 5, 2022.

In a previous tweet, Filan explained that both redacted versions of the summary judgment motions and oppositions were filed days before the scheduled date. According to Filan, the redacted summary judgment motions were originally due on September 19 but were filed on September 17.

“[…] The redacted oppositions were due on October 24 but were filed on October 21. So, expect the redacted replies to be filed early as well,” Filan said.

Possible Reference Points in the Redacted Replies

Since the replies are still sealed, the public can only speculate on possible areas that the parties focused on in the briefs. XRP holders expect the parties to address the amicus curiae briefs filed by non-parties in the lawsuit.

As reported, 16 entities filed amicus curiae briefs in the Ripple vs. SEC case. Out of the 16 entities, 13 entities are in support of Ripple’s case against the SEC, and they include:

  1. TapJets 
  2. I-Remit 
  3. Investor Choice Advocates Network (ICAN) 
  4. Blockchain Association 
  5. SpendTheBits 
  6. Coinbase 
  7. Cryptillian Payment Systems. 
  8. Crypto Council for Innovation (CCI) 
  9. Valhil Capital LLC 
  10. Reaper Financial 
  11. Paradigm Operations
  12. Veri DAO LLC, and 
  13. Attorney Deaton, on behalf of over 75K XRP holders.

Notably, two non-parties, including the New Sports Economy Institute (NSEI) and Accredify Inc (InvestReady), have thrown their weight behind the Securities and Exchange Commission. However, one entity, the Chamber of Digital Commerce, chose a neutral stand in its amicus curiae brief.

Meanwhile, Filan ruled out the possibility of the parties referencing excerpts from the sealed controversial William Hinman documents. Per the pro-Ripple lawyer, the SEC will redact any portion of the defendants’ reply that references excerpts from Hinman’s documents.

Filan further said Judge Analisa Torres would unseal Hinman’s document if she relied on it when drafting her summary judgment ruling.

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Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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