Ripple v. SEC: Ripple Opposes Non-Party’s Request to Conceal His Identity

Ripple Opposes Non-Party’s Request to Redact Details of Declaration Supporting SEC.

Ripple said the non-party has no compelling basis for asking the court to conceal his name, position, and employer.

Leading blockchain company Ripple has opposed the motion filed by Investment Banker Declarant, a non-party in the ongoing SEC lawsuit. Earlier this month, Investment Banker Declarant asked the court to grant his motion to redact additional portions of the declaration submitted supporting the SEC’s summary judgment motion.

The non-party had requested that the court redact his name, position, and employer from the declaration due to concerns over potential threats he could receive if the information is made public.

It bears mentioning that the declaration by Investment Banker Declarant is aimed at assisting the SEC in its investigation into Ripple’s alleged violation of U.S. securities law.

Ripple’s Change of Heart

Ripple and Individual Defendants – Brad Garlinghouse and Chris Larsen – had initially informed Investment Banker Declarant that they do not oppose or consent to his motion.

However, the Defendants had a change of heart by officially filing an opposition to the motion filed by Investment Banker Declarant.

“Defendants Ripple Labs, Garlinghouse, and Larsen oppose the letter motion by Investment Banker Declarant, which seeks to redact his declaration to shield from public view his name, position, and the name of his employer,” an excerpt of Ripple’s opposition read.

According to Ripple, the non-party voluntarily submitted the declaration in support of the SEC’s motion for summary judgment. Ripple noted that since the non-party voluntarily submitted the declaration, he has no compelling basis for asking the court to redact his name, position, and employer.

Furthermore, the leading blockchain company said the cases cited by the non-party are out of place. It added that none of the cases granted sealing for a declarant who voluntarily submitted a sworn statement at the summary judgment stage. 

Notably, Ripple’s opposition to the declarant’s motion was shared by prominent defense lawyer James K. Filan, who has been keeping the XRP community updated with relevant information about the ongoing lawsuit.

#XRPCommunity #SECGov v. #Ripple #XRP Ripple opposes the Motion by “Investment Banker Declarant” which seeks to shield from public view his name, position, and employer because he voluntarily submitted the declaration in support of the SEC’s Summary Judgment motion. pic.twitter.com/0GpjTffImO

— James K. Filan ???? 126k (beware of imposters) (@FilanLaw) January 18, 2023