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Ripple opposed the Rhetoric SEC about the confidentiality of the regulator documents
Ripple, its CEO Brad Garlinghaus and co -founder Chris Larsen sent an objection to the peace of the SEC petition for a partial revision and clarification of the decision regarding DPP . This was announced by lawyer James Filan.
The company claims that the regulator is trying to re -consider the issue, since it is dissatisfied with the court order.
“SEC does not claim that in this case the requirements of the standard for re -consideration were complied with. Instead, the commission is trying to again state the issue, which was considered in detail during the year, but this time relying on new theses, ”the letter says.
DPP is the principle of law that allows SEC to refuse to disclose documents or testify, referring to the confidentiality of data and sources.
Earlier, the regulator petitioned the disclosure of records made by Matthew Estabruck-adviser to ex-commander Elad Roysman. They contain information about the meeting of the latter with Garlinghaus in 2018.
At the same time, the commission agreed to transfer the Neverberen documents for consideration “when closed doors” (Camera Review).
The Sec Has Submitted the Notes to Magistrate Judge Netburn for in Camera Review.
– James K. Filan 🇺🇸🇮🇪 (@Filanlaw) February 24, 2022
The term used SEC suggests that at the current stage the defendants will not be able to familiarize themselves with the data provided. If the judge considers them important for the process, they will be made public at an open meeting.
Ripple petitioned for Bored Ape: Slim the disclosure of Roysman’s records in early February 2022. In December last year, the official announced that he would leave a post in the regulator.
The company claims that these documents do not fall under DPP, and therefore must be transferred to the court and presented to the public.
According to lawyer Jeremy Hogan, Ripple actions can be a serious blow for the SEC strategy.
Wow. I Expected Ripple to Come Out Swinging and this Brief Did Not Disappoint. #MATTSOLOMON
This is the hardest hitting briefed form in the literature – and rightfully so.
The Sec Has Spun Itself a Tangled Web Here and I Don ‘Expect the Judge to Help Them Out of it. https: // t.CO/LM7SXKQ273
– Jeremy Hogan (@attorneyjeremy1) February 25, 2022
“Wow. I expected Ripple to perform on a grand scale, and this note did not disappoint me. This is the hardest statement for the entire period of the trial – and by law. SEC weaved a confusing web, I do not expect a judge to help the commission get out of it, ”Hogan wrote.
Last week, Ripple revealed the consultations provided to it by the law firm Perkins CoIe in 2012. The documents stated that the XRP token is not a security.
Recall, on February 17, the regulator sent a petition to the court with a request to hide the draft of the ex-head of the corporate finance department of William Hinman from 2018. The community suggested that the reason in its significant adjustments.
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