In the ongoing lawsuit against Ripple, the SEC filed its response brief and supporting exhibits under seal, a move that precedes the release of a public version and additional sealed filings.
In the ongoing lawsuit against Ripple, the SEC filed its writ response brief and supporting exhibits under seal, a move that precedes the release of a public version and additional sealed filings.
James K. FilanA former federal prosecutor who routinely shares updates on the Ripple lawsuit revealed that the SEC has filed, under seal, its brief response and supporting exhibits.
The sealed nature of the presentation indicates that it contains confidential information that is not yet ready for public consumption. Redacted public versions are expected to be submitted by Wednesday, May 8, 2024.
That said, the crypto community is eagerly awaiting the redacted versions, which will shed light on the SEC’s arguments and the possible implications for Ripple and the XRP cryptocurrency.
Filan shares that other filings related to sealing are expected to follow, and shares a document highlighting upcoming deadlines.
On May 7, 2024, Ripple and the SEC are expected to meet and convene to identify the redactions requested by each party and third parties, if any, to the response brief and exhibits.
On May 8, 2024, the SEC is expected to file a publicly redacted version of its recently published response brief and any supporting exhibits that neither party or third party has designated as confidential or highly confidential under the protective order.
On May 13, 2024, both parties and third parties are expected to file motions by omnibus letter to seal all materials related to the solutions-related report, including supporting pleadings, depositions, and exhibits. They would also present proposals for writing said materials.
On May 20, 2024, parties and third parties are expected to file briefs in opposition to the omnibus letter motions to seal. Under the joint proposal, the parties would also be required to file publicly redacted versions of all documents within 14 days of the court’s rulings on the blanket sealing motion.
The above deadlines may indicate that the main filings in the remedies phase have been filed, leaving only deliberations on what materials would be sealed.
As the SEC has filed its final response brief in the remedies phase, the crypto community awaits the final court decision and its possible implications for Ripple, XRP, and the crypto market in general.
