SEC, Ripple Files Joints Summary Judgement Proposal

The U.S. SEC and Ripple’s defendant on Thursday filed a joint prosal regarding the upcoming Summary Judgement in the XRP lawsuit. Both parties are seeking the court’s approval to over sealing issues relating to the motions yet to be filed in this case.

XRP Lawsuit to end soon?

According to the letter filed, the proposal ensures complete public access to the parties’ briefs in the XRP lawsuit. However, it mentioned that any of the proposed redactions are expected to be minimal.

In order to maintain efficiency, the parties come together to suggest a schedule for redactions soon. This will be done just after the reply briefs are filed. It added that this will allow both parties to meet and confer on different matters in the XRP lawsuit.

The proposal stretches from September 13, 2022, to December 22, 2022. The schedule will begin with parties filing all materials relating to the summary judgment motions under seal. This will eventually include briefs, statements, and supporting exhibits.

Later, Ripple defendants and SEC will meet and confer on September 15, 2022. This meeting will identify redactions sought by both the briefs to brace summary judgment motions in XRP Lawsuit. However, it will be important to see when will this process will address the Hinman docs issues.

What does the court suggest?

However, the schedule set by the court mentions that opening motions are due on September 13, 2022. While oppositions are due by October 18, 2022. The replies to these motions are needed to be filed by November 15, 2022.

Meanwhile, the Defendants in the XRP lawsuit note that it is important to file public versions of the summary judgment briefs. It is related to the two sets of amici which will need access to the legal briefs so that they can propose their own amici filings.

John Deaton, Amicus Curiae in the XRP lawsuit highlighted that the DCC filed a pro hac vice motion. However, it was denied without prejudice but somehow they refiled it. He added that they need to read the filed briefs by the parties before making a decision to submit an amicus brief.

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]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.