The Ripple, Bradley Garlinghouse and Chris Larsen have filed a response against the Securities and Exchange Commission in the Ripple Vs SEC case. The message deals with the SEC’s request to have its notes portion of the case redacted. However, the defendants said they are not challenging the SEC’s editorial board.
Court to Review Redacted Portions of Notes in XRP Vs SEC Case
In the notice, the defendants stated that they did not review the redacted portions of the notes. In the meantime, the commission has even submitted uncorrected versions of it to the court. According to Ripple, they rely on the SEC’s display of the notes and the court’s assessment.
The notes cited by both parties are the handwritten memos made by SEC employees attending meetings between the committee and third parties. The notes allegedly contain internal communications from meetings in 2014 and 2018.
The court must review those notes to find out whether related portions actually reflect the author’s own thinking or discussion among SEC employees at the meeting. However, the defendants have made it clear that based on the information available to them, they do not wish to challenge the SEC’s editorial board at this time.
Ripple and SEC to File Proposed Scheduling Order by April 22
Attorney James K Filan has suggested Ripple should adjourn the court to decide whether the censored portions are protected by the DPP ruling. However, both versions of the notes have so far only been viewed by the Court and the SEC.
Filan said this response was filed not just by Ripple, but by all of the defendants in the case. So the two-week clock to response would have started when the individual defendants filed the notice. He hinted that they may submit it after April 8.
Previously, the Eastabrook notes have been in the spotlight and now these notes have made headlines. Developments in the case have been delayed due to certain unnecessary announcements. Judge Sarah Netburn, however, orders both sides to agree on a briefing schedule for a preliminary injunction. Both parties are expected to submit a joint planning proposal by April 22.
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Ashish believes in decentralization and has a keen interest in evolving Blockchain technology, the 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 plays video games, watches a thriller or participates in outdoor sports. Reach me at [email protected]
This post Ripple Decides Not To Challenge SEC Editors In Critical Comments
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