The lawsuit between the Securities and Exchange Commission (SEC) and Ripple has been rotating around the assertion made over the infamous Hinman’s speech. The court has ordered the commission to provide 10 additional documents for in camera review to justify their claim by June 16.
Court to hammer over SEC’s assertion
Attorney James Filan in a Twitter post shared that Judge Sarah Netburn in a notice instructed the SEC to submit memos for the court’s review. It mentioned that the court earlier permitted the regulator to produce 10 exemplar documents in link with its partial reconsideration motion. It further added that the Commission wants to withhold the mentioned memos on the basis of attorney-client privilege.
Bill Hinman’s 2018 speech has been one of the major highlights of this case. The Ex Director in a conference mentioned Ethereum (ETH) is not a security. Ripple and Other defendants have tried to pull up on this particular point. However, the SEC has also defended it with different assertions.
The court notice highlighted that it has reviewed the 10 exemplar documents earlier but in the reference to the deliberative process privilege. However, they haven’t evaluated the memos listed in Attachment 1. In order to stand by its claim, SEC needs to produce the called documents for an in camera review.
SEC wants to seal its amici motion response
Filan has also shared another update related to the lawsuit. The SEC has come forward to file its appeal to seal its response to the amici motion related to the Daubert challenge. The commission here is claiming that some details that they want to seal have already been out in public by Movants’ counsel, John Deaton.
To prevent further threats to the SEC’s expert, the regulator seeks to seal this and other materials. It adds that expert witnesses’ options may get challenges by the opposing party over it. However, it can also be challenged by the public in high-profile cases.
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