- James K. Filan, a former federal prosecutor, announced that the summary judgment documents related to the SEC vs. Ripple case will be publicly available by June 6, 2023.
- The key highlight of the court’s latest decision was the refusal to allow the SEC to seal the internal deliberations related to a speech by William Hinman, former director of SEC’s Corporation Finance.
Summary Judgment Documents in Ripple vs. SEC Case to be Public by June 6
In an ongoing case between the Securities and Exchange Commission (SEC) and Ripple, an update regarding the timing of public document release has been shared by James K. Filan, a former federal prosecutor. According to Filan, the redacted versions of the summary judgment documents will be filed publicly by June 6, 2023, a move eagerly anticipated by XRP enthusiasts.
Court’s Decision on Sealing Requests: 21-Day Countdown Begins
The court’s order from September 12, 2022, stipulated that the summary judgment documents should be filed in the public docket 21 days after the court’s decision on their sealing requests. As per Filan’s calculation, June 6, 2023, precisely marks the end of this 21-day period from the ruling on the sealing requests.
Filan’s announcement sparked a wave of reactions from the XRP community. Ashley Prosper, a prominent XRP enthusiast, expressed her gratitude to Filan for clarifying the timeline. Prosper hypothesized that the parties involved may not want certain information that the judge has decided to unseal to become public, possibly hinting at an impending settlement.
Her concern was that any agreement between the SEC and Ripple might have a negative impact on the broader crypto industry, given the SEC’s ongoing adversarial enforcement actions against cryptocurrencies.
Court Denies SEC’s Request to Seal Hinman’s Documents
The court’s latest decision includes responses to both the SEC and Ripple’s requests to seal summary judgment documents. Although some requests were granted, a significant portion of the requests were denied. The most notable part of this decision was the refusal to seal the internal discussions related to a contentious speech by William Hinman, the former director of SEC’s Corporation Finance.
Judge Analisa Torres underscored the strong presumption of public access to judicial documents, including drafts of Hinman’s controversial speech. Reacting to this decision, Ripple CEO Brad Garlinghouse indicated the company’s plans to release the unredacted version of Hinman’s documents. In light of these developments, Attorney Hogan stated that on June 6th, Hinman’s emails could be made public, thus marking a significant date for all parties involved.