The U.S. Securities and Exchange Commission (SEC) Vs Ripple, XRP case has entered into the much awaited summary Judgement phase. Both parties recently submitted motions regarding the proceedings.
What to expect ahead in the XRP case?
Meanwhile, before the crucial proceedings begin, Attorney James Filan informed what the public can expect ahead from the next court filing in the XRP case on Monday, September 19, 2022.
SEC and Ripple defendants have submitted the joint scheduling proposal. District Judge Torres went on to approve the proposal. The submitted plan seems very specific regarding which documents will come out in public in the XRP case. However, it also mentions the fixed date of its revelation.
As per attorney Filan, September 19, 2022, will see the redacted version of the submitted briefs. The public won’t be able to actual declarations and Exhibits in the XRP case.
He highlighted that these documents will eventually come after the pending decision on the Omnibus briefing. This is related to the sealing described at the end of the accepted schedule.
Sealing motion to affect Summary Judgement timeline?
The attorney informed that the submitted briefs will be long. However, this will see references and citations to the declarations and exhibits. However, the actual documents won’t be revealed until the decision is formed over the Omnibus briefing related to sealings in the XRP case.
Meanwhile, Filan suggested that it is possible that the court’s decision over the pending Daubert sealing motion. He added that directly overlaps the Summary Judgement sealing issues. According to the expert, this can surely affect the schedule. Attorney also dropped the projected timeline.
However, a Third Party B files a motion to seal requesting redactions to the declaration of Third Party B filed by the commission in the XRP Case. It is an attachment to the SEC’s motion for the proposed Judgement.
It mentioned that in the Second Circuit district courts apply in the three part analysis to determine whether to place the memos under seal.