James K. Filan has shared a new SEC vs. Ripple lawsuit update.
Attorney Filan disclosed that both the SEC and Ripple filed a joint letter requesting an extension to file public, redacted versions of the summary judgment materials and accompanying exhibits, including the drafts of William Hinman’s controversial speech on crypto.
The parties want the deadline for filing redacted versions of summary judgment materials to be moved by one week, from June 6, 2023, to June 13, 2023.
“[Both the SEC and Ripple] request that the court orders the parties to file on June 13, 2023, public, redacted versions of their cross-motions for summary judgment and accompanying exhibits consistent with the court’s May 16, 2023, sealing ruling,” an excerpt of the joint letter read.
Court Denies Motion to Seal Hinman’s Docs
Recall that Judge Analisa Torres recently ruled on the parties’ requests to seal summary judgment materials and other exhibits. The highlight of the ruling was the denial of SEC’s motion to seal the drafts of Hinman’s controversial speech.
Filan had disclosed that Hinman’s documents would be made public on June 6, 2023. Following the parties’ new request, the date could be moved to June 13. However, it remains to be seen whether Judge Torres will grant the request.
A Possible Settlement?
Meanwhile, the development has sparked reactions from crypto community members. Commenting on the development, Fred Rispoli, Chief Legal Counsel at Reaper Financial LLC, noted that the request seems weird, given that both the SEC and Ripple previously had detailed discussions regarding the redactions.
Frispoli said he has the feeling that there is an ongoing scramble happening in the background of the case.
This is weird to me. The parties already had detailed discussions on these redactions the first time around. Could be nothing more than what's written but it's just…odd. This gives me the feeling that something has changed and there is a scramble going on behind the scenes. https://t.co/MM0kndLvm9
— Fred Rispoli (@freddyriz) May 19, 2023
Meanwhile, most XRP enthusiasts do not think the SEC will allow Hinman’s documents to be filed in the public space. For these enthusiasts, the regulator would rather settle with Ripple than allow the drafts of Hinman’s speech to be made public.
Follow Us on Twitter and Facebook.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.