Ripple Vs SEC: Both Parties Agree On A New Deadline

The parties want Judge Torres to set a deadline of January 4, 2023, for non-parties to request the sealing of portions of summary judgment materials.

Ripple and the SEC have requested that the court set a deadline by which non-parties in the ongoing lawsuit must move to seal any portion of the summary judgment materials.

According to the letter filed yesterday, as shared by defense lawyer James K. Filan, both the SEC and Ripple want U.S. federal judge Analisa Torres to set a deadline of January 4, 2023, for non-parties to file sealing requests for selected portions of the summary judgment materials.

#XRPCommunity #SECGov v. #Ripple #XRP Parties request that the Court set a deadline of January 4, 2023 by which non-parties must ask to seal any portions of the Summary Judgment Materials or else waive any objections to the Court's ruling on the Parties' sealing applications. pic.twitter.com/J16zv6URDp

— James K. Filan ???? 126k (beware of imposters) (@FilanLaw) December 9, 2022

Before filing the omnibus motion to seal on December 22, the SEC and Ripple said they would notify all non-parties whose confidential information is included in the summary judgment materials. The move will give non-parties enough time to request the sealing and redaction of any summary judgment documents containing their confidential information.

According to the parties, the move will facilitate an efficient resolution of all requests to seal and redact portions of the summary judgment materials.

“Given the parties’ desire to reach an expeditious resolution of all sealing-related issues regarding the summary judgment materials, the parties respectfully ask the court set a deadline of January 4, 2023, by which any non-parties must move to seal portions of the summary judgment materials or else waive any objections to the court’s ultimate ruling on the parties’ sealing applications,” excerpt of the letter read.

Parties Also Propose a Deadline for the Opposition

Furthermore, the SEC and Ripple also request that the court sets a deadline of January 18, 2023, by which the parties or non-parties may file oppositions to the non-parties motion to seal.  

The move is imperative in resolving the lawsuit, as it will simultaneously address the party’s and non-parties sealing requests. Both the SEC and Ripple are using the medium to allow non-parties to request the sealing of confidential information included in the summary judgment motions or related materials.

The move comes days after the parties filed their respective summary judgment replies, with each side asking the court to rule in their favor. Judge Torres is expected to rule on the legality of XRP soon to determine whether the asset class is a security. At the moment, there is no specific date Judge Torres is expected to give her ruling on the matter. Interestingly, Filan expects the Judge to rule on the case on or before March 31, 2023.