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The latest update in the ongoing XRP Lawsuit indicates a possible twist regarding former SEC executive William Hinmanās deposition. Brad Garlinghouseās counsel has filed for a motion to seal Exhibits as part of a deliberative process privilege dispute. These include parts of William Hinmanās deposition transcript, which were one of the most prominent documents for Ripple to win the lawsuit.
āEach discovery materials exchanged between the parties through ācompulsory process to facilitate orderly preparation for trail, not to educate or titillate the public.āā, letter requesting a motion to seal stated.
#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: Brad Garlinghouse files Motion to Seal Exhibits, including parts of William Hinman deposition transcript, as part of deliberative process privilege dispute.https://t.co/cpn3HyriZJ
ā James K. Filan (@FilanLaw) August 10, 2021
Ripple confirmed that the defendants have consulted with the SEC regarding filing the exhibits under seal. The SEC in turn has not objected, however, SECās review of the submitted material and final decision to request a seal is pending. Furthermore, this could speculate a potential internal settlement between Ripple and the SEC. Where Ripple has agreed to file Exhibits under seal so the named SEC officials do not have to face any more public scrutiny.
āDefendants are contemporaneously filing a redacted copy of the Letter, as well as unredacted copies highlighted for redaction, under seal. Defendants are also filing copies of Appendix A and Exhibits A-H under seal.ā
Motion to Challenge SECās misuse of DPP
Following the preliminary motion to seal, Rippleās counsel filed a letter motion Challenging SECās improper assertion of privilege, principally deliberative process privilege (DPP). The misuse of DPP by the SEC is filed over pending documents from the SEC, that are relevant to the lawsuit. Ripple argues that the plaintiff has failed to produce vital data despite two consecutive orders.
#XRPCommunity #SECGov v. #Ripple ##XRP BREAKING: Defendants file motion challenging the SECās improper assertion of the Deliberative Process Privilege. https://t.co/Y5g1rd2XNA
ā James K. Filan (@FilanLaw) August 11, 2021
Ripple counsel claims that SECās case against individual defendants upon illegitimate sale of XRP without registering it as security will be quashed when demanded documents are produced. These documents will in turn highlight the SECās uncertainty of digital assetsā status as securities. Additionally, scrapping off SEC claims of ārecklessā sales of XRP by individual defendants, as ripple was on āfair noticeā that XRP was in fact a security.
Withheld documents include 13 internal communications among SEC staff directly related to the regulatory status of BTC and ETH, Hinmanās 2018 speech on ETH non-security status. 63 Emails with drafts of Hinmanās speech, and 65 other case-relevant documents with emails, attorney notes, memoranda. Additionally, SEC has failed to produce 170 inter-agency communications as subject to DPP.
Despite the defendantsā claims against SECās misuse of DPP, the motion to challenge it is accompanied by sealed exhibits that channel the Ripple-SEC lawsuit towards potential settlement.
The post XRP Lawsuit: Is Ripple looking for a settlement with Motion to Seal? appeared first on Coingape.
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