SEC vs. Ripple: Ripple Might Pay $250K to Have Its Summary Judgment Docs Reviewed 

Deaton speculates that Ripple will pay $250K to have its summary judgment materials reviewed by paralegals.  

Pro-XRP lawyer John Deaton speculates that Ripple might pay at least $250K to enable multiple paralegals and associates to review the company’s redactions on the summary judgment materials.  

“Want to take a guess at how much Ripple will be billed for multiple paralegals, associates, and partners to review each document to make sure each redaction complies and satisfies Judge Torres’ decision? And then review the SEC’s submissions as well? I say $250K minimum,” said Deaton. 

New Settlement Rumors in SEC vs. Ripple Case

Deaton’s comment was in reaction to his previous tweet about a possible settlement in the lawsuit between the U.S. SEC and Ripple. As reported earlier, both the SEC and Ripple filed a joint request to extend the deadline for the public filing of redacted versions of summary judgment materials and accompanying exhibits, including Hinman’s docs. 

The development surprised many XRP enthusiasts, who believe the parties might be planning to discuss the terms of a settlement. Most XRP fans asserted that the SEC would prefer to settle with Ripple than release Hinman’s docs to the public. 

However, attorney Deaton disagreed with this opinion. According to Deaton, the SEC only requested a one-week extension to the June 6, 2023, deadline because it has many documents that need to be redacted in accordance with Judge Torres’ sealing order. 

Meanwhile, several XRP enthusiasts disagreed with Deaton’s opinion on the matter. 

“As expected, many smart people disagree with me and that’s what’s great about this community. At the end of the day, we’re all speculating. But sometimes, the most obvious answer is the correct one,” he said. 

It remains to be seen whether the request by the parties to delay the public release of Hinman’s docs will lead to a settlement. Following the joint request, both the SEC and Ripple now have until June 13, 2023, to file public, redacted versions of summary judgment documents and accompanying exhibits like Hinman’s docs.