Ripple, the San Francisco-based cross-border payment firm, has recorded another big win in its ongoing legal tussle with the United States Securities and Exchange Commission (SEC), as Judge Sarah Netburn recently insisted that the regulator has to release Hinman’s emails.
In a recent ruling, as reported by James K. Filan in a series of tweets on 11th April, the court has denied the SEC’s request for partial reconsideration of the Deliberative Process Privilege (DPP) ruling.
James K. Filan, who described the recent development as a very big win for Ripple tweeted, “BREAKING: The Court has denied the SEC’s Motion for Reconsideration of the DPP Ruling and granted the SEC’s request for clarification of that ruling.”
#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: The Court has denied the SEC's Motion for Reconsideration of the DPP Ruling and granted the SEC's request for clarification of that ruling.https://t.co/yXNmx67zpQ
— James K. Filan 🇺🇸🇮🇪90k+ (beware of imposters) (@FilanLaw) April 11, 2022
James K. Filan further added that “The SEC has identified no intervening change of controlling law or any other controlling decisions unaddressed by the Court’s January 13, 2022 Order.
“The SEC’s assertion that the Speech was intended to communicate Corporation Finance’s approach to regulating digital asset offerings is inconsistent with the SEC’s and Hinman’s previous position that the Speech was intended to and did reflect his personal views.
“The SEC seeks to have it both ways, but the Speech was either intended to reflect agency policy or it was not. Having insisted that it reflected Hinman’s personal views, the SEC cannot now reject its own position.”
According to the defense lawyer, the court has given the SEC 14 days to file an objection to this decision to District Judge Torres.