Judge Analisa Torres in XRP trial on Friday Ripple and declared a great victory for the other defendants. The court rejected the US SEC’s appeal, while ordering the commission to hand over important Hinman speech documents.
What Could SEC’s Next Step In Ripple Litigation Be?
Previously, Judge Sarah Netburn denied SEC requests for attorney-client privilege over documents related to the Hinman speech. If SEC cryptocurrency He objected to the decision, stating that the defendants had misrepresented their claims on the documents.
Attorney James Filan shared the options available to the SEC after this loss. Filan noted that the SEC has a number of administrative trump cards that it can play to delay compliance with this order. However, this isn’t the first time the SEC has implemented these delaying tactics.
Here are Filan’s views on the SEC’s next moves in the Ripple case:
“First, they can ask Judge Torres to reconsider the SEC’s decision dismissing his appeal. Second, they can skip the request for reconsideration and simply ask him to uphold the appeal of the decision he made today.
Third, they can go directly to the Court of Appeal with a Mandamus Letter Petition. As I mentioned earlier, these are all moves with low probability of success.
However, if the SEC wishes to delay the publication of the documents, it can try any or all of these moves, which could take another 2 to 3 months. However, none of these delaying attempts will affect the summary judgment schedule.”
#XRPCommunity #SECGov v. #Ripple #XRP 1/4 Some thoughts on the next steps in the quest for the Hinman documents. The SEC has a number of procedural cards they can play to try to further delay complying with the order to produce the Hinman documents.
— James K. Filan 🇺🇸🇮🇪 115k (beware of imposters) (@FilanLaw) September 30, 2022
The XRP lawyer also stated that they are satisfied with the final decision of the judge.
*Not investment advice.
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