MoneyGram, a third party in the ongoing XRP lawsuit filed against Ripple by the United States Securities and Exchange Commission, has filed an unopposed letter-motion to seal certain portions of its officer’s testimony. The sealing request is to protect highly sensitive, confidential, and/or proprietary business information.
#XRPCommunity #SECGov v. #Ripple #XRP MoneyGram filed an unopposed Motion to Seal a few lines from a deposition transcript of an officer of MoneyGram containing nonpublic information related to MoneyGram's business strategies and operations. pic.twitter.com/mZsRqCcM6Z
— James K. Filan 🇺🇸🇮🇪 107k (beware of imposters) (@FilanLaw) July 29, 2022
MoneyGram Sealing Request
Per a Twitter update, MoneyGram has requested to seal specific parts of the parties’ July 12 filings in connection with the parties’ motions to exclude expert testimony.
The financial institution notes that revealing this information to the public could provide insights into the company’s business practices that competitors could exploit.
Therefore, MoneyGram stresses that the privacy interests of innocent third parties linked to the Ripple-SEC lawsuit should be heavily considered in the overall litigation process.
Part of the document reads;
“The limited redactions that MoneyGram requests are narrowly tailored to protect its highly confidential business information,” according to the letter.
“Indeed, public disclosure of this information would be highly detrimental because it would reveal to the public and MoneyGram’s competitors detailed information about MoneyGram’s internal and confidential business operations and strategic matters.”
As revealed in the letter submitted to Judge Analisa Torres on July 28, MoneyGram has also tendered a copy of the relevant excerpts from the transcript with the proposed redactions highlighted.
While the court is yet to respond to this request, it is worth noting that both Ripple and the SEC have not opposed this sealing request from MoneyGram.
More Third Parties Request to riSeal
In other news, James K. Filan, a defense lawyer, and former federal prosecutor announced a similar sealing request from an unidentified third party.
This anonymous third party filed a motion to seal portions of exhibits to the Daubert Motions. The aim is to protect its confidential business information and the privacy of its current and former representatives.
More so, the same unknown third party tendered a sealed letter addressed to District Judge Torres specifying the exact areas of its sealing requests, according to a source familiar with the matter.