The SEC and Ripple legal conflict has taken another turn after the latter filed the latest request. Recently, Ripple had filed its opposition to the SEC’s attempt to seal the identities of its experts regarding Daubert motions.
Ripple lawyers believe the SEC has not made the necessary demonstration of “fact” to seal the identities of these experts. James K. Filan, a famed attorney, reported on the matter in his latest tweet.
#XRPCommunity #SECGov #Ripple #XRP 1/2 Ripple Defendants, for reasons stated earlier, oppose the SEC’s request to seal the identities of its proposed experts in connection with the parties’ Daubert motions, including the parties’ reply briefs. New and original filings are below. pic.twitter.com/e4OVcWLqkt
— James K. Filan 🇺🇸🇮🇪 111k (beware of imposters) (@FilanLaw) September 12, 2022
No-way through
Just last week, the SEC requested to seal portions of the Exclusion Motions dated 30 August. The briefs contain information identifying the SEC’s expert witnesses. This can have unmitigated consequences for those involved.
Those redactions are appropriate for the reasons set forth in the SEC’s 22 July Motion to seal certain portions of the Exclusion Motions.
The court previously granted a similar application to redact the names of two SEC Experts. The court also held that such a redaction is “narrowly tailored to serve interests of witness safety.”
But the Ripple legal team holds a different idea. They have re-attached the previous reply in response to the SEC’s latest plea. In their response, Ripple claimed that “the SEC’s proposed redactions are the opposite of narrowly tailored.”
The defendants also claim that the SEC is providing nothing but speculation in several cases of Experts. The reply mentions the case of Expert “5” whose identity, reports and deposition is available on the internet since March 2022.
Citing this case, Ripple claims that the disclosure of identity exposure would not have the consequences suggested by the SEC.
Wait, hang on
The SEC and Ripple have jointly agreed on a scheduling proposal to govern sealing issues regarding the upcoming summary judgment motions. According to another one of Filan’s tweet, Judge Torres has approved this joint proposal.
The latest agenda on the proposal is scheduled for 15 September when both parties will meet and identify redactions in support of the upcoming summary judgment motions.
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