Court Orders SEC and Ripple to Submit More Documents

Advocate James Filan has recently shared an important development in the infamous SEC versus Ripple Labs case. The lawsuit has been going on for a year now and has yet to reach a decisive conclusion. The case took an unexpected turn when the Ripple Labs defence lawyers filed a motion to disclose the internal discussion about Ethereum and Bitcoin within SEC.

The motion to compel was first filed by Ripple Labs lawyers in March and has been rebutted by the prosecution thus far. The court eventually honoured the motion in April. However, SEC maintained that the documents were not relevant to the case and called for an extension in lieu of collecting evidence against Ripple by corresponding with the regulatory firms around the globe.

As reported by advocate Jame Filan, Magistrate Judge Sarah Netburn has issued a decree by court addressing both defence and prosecution. The copy of the document calls for both Ripple Labs and SEC attorneys to have three days to file a letter brief. Filan also explained that these brief letters are going to be filed under the Deliberative Process Privilege that warrants the disclosure of information or discovery in civil litigation cases.

A copy of the court order was shared by Filan on his official Twitter account. The post soon started to get attention from the crypto community members and started a debate over its immediate results on the case. According to the opinions of the Filan followers, the new development is a small victory for Ripple Labs and good news for XRP investors.

Jeremy Hogan is an independent lawyer who has been following and posting updates about the Ripple Labs case for a long time. Hogan claims that the Deliberative Process Privilege puts SEC at an advantage by protecting the internal government communication from disclosure.

Hogan claimed that the court has suddenly shifted gears and acted like a guardian changing rules without prior notice or explanation. The SEC charged Ripple executives Chris Larson and Brad Garlinghouse with $2.8 billion unregistered securities dealing last year in December.

Leave a Reply

Your email address will not be published. Required fields are marked *