There has been a new development in the Ripple and SEC case, which has been going on since December 2020. Lawyer James Filan, known for his closeness to the Ripple company, requested the details of the meeting between the 2018 term SEC Commissioner and CEO Garlinghouse in a new tweet. cryptocoin.com We provide details as…
Ripple requests details of Garlinghouse meeting
In a recent tweet, defense attorney James K. Filan shared the latest developments in the Ripple-SEC case. Ripple has filed a request to compel the Securities and Exchange Commission to release the notes from the meeting between CEO Brad Garlinghouse and former SEC member Elad Roisman. Filan made the following statements in his post during the day:
Ripple has officially filed its application requesting details of the 2018 meeting between Brad Garlinghouse and former SEC commissioner Elad Roisman. The SEC, on the other hand, denied this request based on privacy law.
The SEC contested the motion, citing the privilege of the negotiation process (DPP)
According to Ripple’s spokespersons, the SEC’s appeal comes just a week after the court ordered some recordings to be released. The SEC’s approach was questioned by Hogan & Hogan’s associate attorney, Jeremy Hogan, who claimed the agency had no legal basis to take over the DPP because the memos had nothing to do with the Ripple investigation. Since the SEC is a government agency, it does not have to accept every application that Ripple makes to the court, and only the SEC will bring files to court as it deems appropriate. Jeremy Hogan said the following in support of James Filan’s post:
The SEC has no justification for invoking DP Privilege here, as shown below, as it has admitted to Solomon that the notes are irrelevant to the Ripple investigation. The SEC appears to be attempting a Hail Mary with this DPP, hoping Judge Torres will free them on appeal.
According to Ripple, the SEC has stated that it will not need the memos since Garlinghouse was present at the meeting. The company also claimed that recordings of simultaneous meetings provided to the SEC showed the Ripple CEO leaving the meeting, leading it to believe the SEC had accepted the legal “purgatory” created by regulatory uncertainty. The approval of court judges Sarah Netburn and Analisa Torres is required for the Ripple claim to survive SEC appeal. To recall, Judge Torres turned down some of the SEC’s confidentiality-based rejections and demanded the disclosure of the files during the litigation spanning more than a year.
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