The court has ordered the U.S. Securities and Exchange Commission (SEC) to deliver the Infamous Hinman email but it has objected, now Ripple and the other defendants have responded to the objection.
The U.S. Securities and Exchange Commission has objected to the court’s most recent judgments addressing the disclosure of emails pertaining to the Ethereum speech of former top employee William Hinman, and Ripple and individual defendants Brad Garlinghouse and Chris Larsen have responded.
The defendants have requested that the judge dismiss the SEC’s arguments. There have already been three orders from Magistrate Judge Sarah Netburn requiring the agency to provide the requested documents.
The agency contended that the Hinman communications were shielded by the deliberative process privilege, but the court decided in January that the agency had to turn up the emails (DPP).
The plaintiff’s motion for reconsideration was denied by Judge Netburn in April, giving Ripple yet another crucial victory.
In July, the court also denied the SEC’s requests for the attorney-client privilege (ACP). According to the court, giving legal advice wasn’t the primary goal of the correspondence. But the plaintiff is still refusing to turn over the papers.
In late July, permission was requested to register objections to the most recent decision. Ripple asserts that the SEC’s arguments to the court’s ruling about DPP “mischaracterize” Judge Netburn’s viewpoints.
The defendants assert that the regulatory body has provided “no justification” for concluding that the court’s decision regarding the APP was incorrect.
The defendants contend that the speech papers could offer insight into how much the agency was aware of typical crypto trading procedures, thus reducing regulatory uncertainty and supporting Ripple’s fair notice case. The papers might be used by the defendants to limit prospective disgorgement.
