The long-standing lawsuit between Ripple and the United States Securities and Exchange Commission (SEC) is progressing. The District Judge has reportedly approved the joint scheduling proposal for the upcoming summary judgment motions.
In a recent update shared by James K. Filan, a defense lawyer and former federal prosecutor, Ripple and the SEC’s joint scheduling proposal to govern sealing issues relating to the upcoming summary judgment has been approved by the District Judge.
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James K. Filan tweeted, “District Judge Torres has approved the parties’ joint scheduling proposal to govern sealing issues relating to the upcoming summary judgment motions.”
According to the proposal, on September 13, parties are to file materials relating to summary judgment motions temporarily under seal, including briefs, Rule 56.1 statement, and supporting exhibits.
On September 15, parties are to meet and confer to identify redactions sought by each side to the briefs in support of the summary judgment motions.
Going by the dates set by the Court as mentioned in the proposal, opening motions are due on September 13, 2022, oppositions are due on October 18, 2022, and replies are due on November 15, 2022.
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On Monday, Ripple, the San Francisco-based cross-border payment firm, and two of its top executives filed a letter of response to oppose the SEC’s request to seal portions of legal filings that contain information in relation to the proposed expert witnesses.
According to Ripple in the letter, the SEC has not made the “necessary particularized demonstration of fact” to prove that the proposed sealing of the identities of expert witnesses is appropriate.
It can be recalled that the SEC filed a motion on Friday, seeking to seal part of the information from the August 30 reply brief in support of the SEC’s and Ripple’s previous motions to exclude SEC expert testimony. According to the regulator, the sealing could protect witnesses from possible harassment.
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