Settlement With SEC Might Include This “Agreement” per John Deaton

CryptoLaw founder and blockchain enthusiast, John Deaton, responds to a question on the chances of the judge ruling that Hinman documents should remain sealed, sparking up a potential settlement in the Ripple lawsuit.

If there is a settlement it would include an agreement to not disclose any documents received during the litigation of the case. But Ripple isn’t going to be the only company that seeks disclosure of those documents. Other defendants sued by the SEC will, FOIA litigation, etc.

— John E Deaton (@JohnEDeaton1) January 13, 2023

Deaton replied that a settlement in such a scenario would include an agreement not to disclose any documents received during the litigation of the case.

In October, Ripple announced that it now had the much-sought documents of former SEC employee William Hinman, but the documents remain sealed from the public.

Deaton further adds, “Ripple isn’t going to be the only company that seeks disclosure of those documents. Other defendants sued by the SEC will, FOIA litigation.”

As reported by U.Today, John Deaton, in his 2023 predictions, believes that the Ripple case might not settle until after a decision is gotten from Judge Torres. This reinforces Deaton’s belief that a court verdict might be more likely than a settlement.

In a thread of tweets at the start of January, Deaton emphasized that the lawsuit might not settle because of the Hinman emails. The reason he says the case would have settled if the emails were damaging as most think, and they would not have been turned over to Ripple.

After motions for summary judgment and those to exclude expert testimony have been fully briefed, the sealing disputes remain the pending issue in the Ripple lawsuit. In the week, the SEC filed its Response in Partial Opposition to Ripple’s Defendant’s Motion to Seal certain documents filed in connection with the parties’ Cross-Motions for Summary Judgment.

In recent updates, Ripple has filed a redacted motion to exclude the testimony of an SEC expert and the accompanying exhibits from the public docket. As made known by James K. Filan, redacted Daubert filings, or those that exclude expert testimony, are now available on CryptoLaw’s official website.

The SEC has likewise filed an omnibus motion to exclude the testimony of the Ripple defendant’s expert.