SEC v. Ripple: Judge Analisa Torres Takes a Decision On Parties’ Requests to Seal Vital Documents

U.S. District Judge Analisa Torres has made a ruling on the parties’ request to seal documents in connection with Amici’s motion to participate in the Daubert challenge. 

According to a ruling made by Judge Torres, the requests made by the parties to seal documents in the lawsuit were denied in part and granted in part. 

The court cited the importance of public access to judicial documents, an important aspect of the United States’ history. 

Judge Torres Cites Reasons for the Ruling

Per the ruling, the idea behind granting the general public access to judicial documents is to showcase a level of accountability that would bolster public confidence in the judicial system. 

“The presumption of public access is at its highest when the material is relevant to a court’s decision on a dispositive motion,” an excerpt of the court’s ruling reads. 

Notably, keeping a document away from the public is justified only when it is considered that sealing is important to preserve higher values and is narrowly tailored to achieve the aim. 

The Court’s Ruling

Recall that the Securities and Exchange Commission has consistently requested the sealing of its response to Amici’s participation in the upcoming Daubert challenge. 

The SEC asserted that publicizing the content of its opposing response and exhibits may expose the expert to harassment and threats. 

Based on these reasons, the SEC requested that the court allow: “(1) redactions of the SEC Letter, (2) redactions of the Defendants’ Letter, and (3) the sealing of certain exhibits to both letters. 

Reacting to these requests, Judge Torres ruled that SEC’s proposed redactions are proper because they are narrowly tailored. For this reason, the SEC’s request to redact selected portions of its objection to amici’s participation in the Daubert challenge shall be permitted. 

However, Judge Torres gave a mixed ruling to the SEC’s request to seal and redact exhibits in its opposition letter. 

“Accordingly, the Court GRANTS in part, and DENIES in part, the SEC’s request to seal and redact exhibits to the letters,” Judge Torres ruled. 

Meanwhile, Ripple had previously requested that the court seal exhibit O to the SEC’s letter. The blockchain company noted that the exhibit is confidential under a protective order, as it contains sensitive details related to its business. 

Judge Torres noted that Ripple did not justify the sealing of Exhibit O, as the reasons provided by the Defendants were insufficient. 

“Accordingly, the Court DENIES Defendants’ request to seal Exhibit O and redact the SEC Letter,” Judge Torres ruled. 

Reacting to the development, attorney Jeremy Hogan, a Partner at Hogan & Hogan, said: 

Judge Torres is not allowing the SEC expert’s opinions to be sealed just because they might “inflame” the public.

Not only does she not allow the parties to keep relevant documents from the public as to THIS motion, she chills the SEC’s pending motions to seal. It’s a 2 for 1! https://t.co/Fq3flsd1Kx

— Jeremy Hogan (@attorneyjeremy1) July 11, 2022

SEC Responds to Ripple’s Expedited Briefing Request

Meanwhile, the Securities and Exchange Commission filed a response to Defendant’s letter, seeking an expedited briefing. 

Shortly after, the Securities and Exchange Commission filed its response to Ripple’s expedited briefing requests. 

The SEC asserted that the expedited briefing schedule proposed by Ripple was not communicated to the agency. 

Although both parties did not meet or confer to discuss the briefing schedule, the agency noted that it does not object to Ripple’s request. 

#XRPCommunity #SECGov v. #Ripple #XRP The SEC has filed its Response to the Ripple Defendants’ Request for Expedited Briefing regarding the disputed SEC sealing requests in connection with the upcoming Daubert challenges. pic.twitter.com/sPe8LaEi1Q

— James K. Filan ???? 105k (beware of imposters) (@FilanLaw) July 11, 2022

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