Ripple Insists on Compelling SEC to Clarify If Its Staffers Were Allowed to Trade XRP
Renowned corporate lawyer, expert in commercial litigation who founded Connecticut-incorporated Filan LLC, James K. Filan, has taken to Twitter to share more updates on the continuous legal battle between Ripple and the SEC, in which both sides have been scoring small victories against each other from time to time.
Filan has tweeted that Ripple has filed another motion to force the SEC to share the documents that would show whether or not the agency’s employees have been allowed to trade cryptocurrencies – Bitcoin and Ethereum, as well as the SEC-criticized XRP.
Ripple files another motion regarding SEC’s documents about XRP trading
The first motion to compel the SEC to produce the XRP-related documents in question was filed by Ripple Labs on August 27, as reported by U.Today. After that, the SEC responded to the judge that such provision of the documents would be an intrusion on the agencies staffers’ privacy and falls under the Privacy Act.
However, in the present motion, Ripple lawyers assure that this is a misinterpretation and they do not seek to review data of any particular SEC’s employees. What they seek is “aggregate, completely anonymized information of a narrow scope and for a limited period of time”.
Ripple’s lawyers have also argued with the SEC’s objection that the production of these documents is burdensome.
According to the motion filed by Ripple, during a meet-and-confer, SEC’s lawyer made an oral statement, saying that the agency’s employees were forbidden to trader XRP since March 2019, when the SEC made a formal order of investigation on Ripple. But the question now is whether they were allowed to trade XRP before that date.
Also, in the letter to Magistrate Judge Sarah Netburn, the Ripple legal team has doubted another SEC’s argument against the production of these documents – the agency stated that these documents were irrelevant to the case.
#XRPCommunity #SECGov v. #Ripple #XRP Ripple files reply in further support of its Motion to Compel the SEC to produce documents showing whether SEC employees were permitted to trade XRP and other digital assets. pic.twitter.com/qR5TEZSMK7— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) September 7, 2021
Ripple files motion to seal exhibits in recordings of its staff meetings
Also, Ripple wants to seal certain exhibits and excerpts from transcripts files by it and the SEC after the agency requested to view video and audio recordings of meetings held by Ripple staff.
The motion says that, aside from other reasons, these exhibits and excerpts are not material to the resolution of the SEC’s latest motion to compel and are “not judicial documents and are not entitled to a presumption of public access”.
#XRPCommunity #SECGov v. #Ripple #XRP Ripple files Motion to Seal certain exhibits and transcript excerpts filed by the parties in connection with the SEC’s Motion to Compel Production of Video and Audio recordings of Ripple staff meetings. pic.twitter.com/GImTvLfFVm— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) September 7, 2021