#XRPCommunity #SECGov v. #Ripple #XRP Ripple and the Individual Defendants have filed their Opposition to the SEC's Motion for Partial Reconsideration and Clarification of Judge Netburn's DPP Ruling, noting that the SEC is simply seeking a "do-over."https://t.co/9D2esv0Key
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) February 25, 2022
The company claims that the regulator is trying to achieve a second consideration of the issue, as it is dissatisfied with the court ruling.
“The SEC makes no claim that the requirements of the reconsideration standard have been met in this case. Instead, the Commission is trying to re-examine the issue, which was considered in detail during the year, but this time based on new theses, ”the letter says.
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DPP is a principle of law that allows the SEC to refuse to disclose documents or testify, citing the confidentiality of data and sources.
Earlier, the regulator petitioned against the disclosure of records made by Matthew Estabrook, an adviser to ex-commissioner Elad Roisman. They contain information about the latter's meeting with Garlinghouse in 2018.
At the same time, the Commission agreed to submit the documents to Netburn for consideration "in closed doors" (camera review).
#XRPCommunity #SECGov v. #Ripple #XRP The SEC has filed its opposition to Brad Garlinghouse's Motion to Compel turnover of notes taken by Matthew Estabrook, counsel to then-SEC Commissioner Roisman, of a 2018 meeting between Roisman and Garlinghouse. https://t.co/1o1qLFcrvu
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) February 24, 2022
The term used by the SEC suggests that at the current stage, the defendants will not be able to see the data provided. If the judge deems them important for the process, they will be made public at a public meeting.
Ripple petitioned to disclose Roisman's records in early February 2022. Last December, the official announced that he would leave his post at the regulator.
The company claims that these documents do not fall under the DPP, and therefore must be submitted to the court and presented to the public.
According to lawyer Jeremy Hogan, Ripple's actions could be a serious blow to the SEC's strategy.
Wow. I expected Ripple to come out swinging and this brief did NOT disappoint. #mattsolomon
— Jeremy Hogan (@attorneyjeremy1) February 25, 2022
This is the hardest hitting brief thus far in the litigation - and rightfully so.
The SEC has spun itself a tangled web here and I don't expect the judge to help them out of it. https://t.co/LM7SXkq273
"Wow. I was expecting Ripple to go big, and this memo did not disappoint. This is the toughest statement of all time in the trial - and rightfully so. The SEC has spun a tangled web, I do not expect a judge to help the Commission get out of it,” Hogan wrote.
As AtoZ Markets reported last week, Ripple revealed the legal advice provided to it by law firm Perkins Coie in 2012. The documents claimed that the XRP token is not a security.
Recall, on February 17, the regulator sent a petition to the court asking to hide the draft speech of the former head of corporate finance William Hinman from 2018. The community suggested that the reason was in its significant adjustments.
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