Another Win for Ripple as Court Denies SEC’s Motion to Seal -Breaking
- Judge Torres denies the SEC’s motion to seal.
- The new judgment follows Tuesday’s court-ordered SEC-Ripple conference meeting regarding Hinman’s speech.
- XRP’s price did not get affected by the latest update. As of press time, the price of XRP is currently down by 0.10%.
According to a tweet shared by defense attorney James Filan, Analisa Torres, the presiding judge in the ongoing legal struggle between the Securities Exchanges Commission (SEC) and cryptocurrency startup , has dismissed the regulating agency’s plea to seal the case as part of its resistance to the filing by six XRP investors of a brief about the view of one of the agency’s experts, Patrick Doody.
Ripple and the Individual Defendants did not concur with the grounds listed in the SEC’s request to seal the documents. According to the Blockchain business, four of five grounds made by the SEC in its request letter do not present a threat to human lives.
Judge Torres said that she rejected the SEC’s motion to seal since the problems identified by the organization in its petition only relate to a portion of the opposition and not the full document.
Additionally, the court ordered that the SEC submit a statement outlining its requested omissions as well as identifying which exhibits they wish to seal by the 14th June 2022. Ripple was deemed to be correct by the court, who stated that SEC wanted to limit more information than it was actually required.
Ripple Labs and United States Securities and Exchange Commission have been involved in a legal dispute since a while now. Every day brings new documents to the case. The court seems to have reached a point where it is tired and just wants to end the case.
The newest judgment follows after Judge Sarah Netburn convened an SEC-Ripple conference to discuss the SEC’s assertions that William Hinman’s speech records fall under attorney-client confidentiality.