Ripple vs. SEC Lawsuit Takes A New Turn

The SEC and Ripple lawsuit has reached a painful stalemate as both parties fight to maintain their positions.

Ripple Legal has filed a motion to frustrate the SEC, focusing on the SEC’s illegal techniques. The SEC employed the Howey Test illegally since the token represented a “security per se.” The SEC has presented this idea from the beginning. As a result of its “unprecedented claims,” the SEC is to blame.

In the most recent tweet, renowned attorney James K. Filan announced a new development in the case. An unknown company has entered the frame and filed a Motion to Seal passages from the Daubert Motions. The party attempts to seal secret business information to safeguard the company and its personnel.

The party wishes to conceal digital wallet information like “financial account numbers.” This was originally stated in a redaction submitted by Ripple.

The same party sent Judge Torres a sealed letter outlining the exhibits subject to its sealing requests. Case observers will seek out the parties for a thorough examination. Crowd conversation began immediately after the tweet was released.

On 9 August, Ripple will reply to the SEC’s objection to Judge Netburn’s AC privilege ruling. The SEC is then supposed to submit a reply brief after a week by 16 August. The date for filing statements on undisputed facts and motion for summary judgment stands to be 13 September 2022. The last date to file oppositions for the motions for summary judgment and responses is by 18 October 2022.

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Harold

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