Ripple Call SEC’s Motion To Shield Hinman Speech “Premature”

The U.S SEC has been shielding the infamous Hinman Ethereum speech related documents for a long time. However, the Ripple and defendants have filed their opposition to the commission’s appeal to submit a length brief in support of its objection to Judge Netburn.

Court denied SEC’s claims over Hinman speech

Hinman’s speech document still remains the key to the crucial lawsuit before going into the summary judgment. Meanwhile, Judge Netburn denied all claims of the commission and asked them to produce the speech related documents in court.

The letter submitted by the defendants mentioned that the court’s individual practices provide 20 pages for the objections. It does not provide for reply briefs and that too on the grounds that the objector should have full notice. The relevant opposition arguments on the issues are already ruled on by the Judge.

Defendants slammed the SEC’s request by calling it premature. It added that the commission has not even seen their opposition briefing yet. It is too early to conclude as there are arguments that it has not got the chance to address. However, it has not even offered any other justification for a reply.

Commission offered no justification

The defendants argued that the SEC has offered no such justifications to diverge from the applied rules. However, the commission has neither mentioned this in its letter nor to the Defendants.

It further highlighted that the commission is requesting to file twice the usual number of pages to support their objection. Meanwhile, the SEC stated justification for protesting against the three orders. Defendants mentioned that one of those orders is a denial of the motion for reconsideration.

However, the third order states the Judge gives the opportunity to SEC for renewing an assertion of the attorney client privilege. This order came after overruling the commission’s deliberative process privilege claim.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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