Thursday, December 8, 2022
 

SEC Wants to Hide More Document Portions on Their Expert Witnesses

  • The SEC has filed a letter asking the ruling court of its ongoing lawsuit against Ripple to seal portions of the filings relating to the SEC’s expert witnesses.
  • “In addition, the SEC seeks to have references to a non-party and its representatives redacted in one document,” the letter reads.
  • A two-page document highlighting three main points that the court still wishes to resolve was also shared by defense lawyer James Filan.

The U.S. Securities and Exchange Commission (SEC) has filed a letter asking the ruling court of the ongoing SEC vs. Ripple case to seal portions of the filings relating to the SEC’s expert witnesses.

In a tweet earlier today, defense lawyer James K. Filan shared the one-and-a-half-page SEC request to Judge Analisa Torres that seeks to “seal certain portions of the parties’ oppositions to the Exclusion Motions that contain information of one of the SEC expert witnesses.” Further, the letter appeals to withhold information of one of SEC’s experts relating to earlier filings.

“In addition, the SEC seeks to have references to a non-party and its representatives redacted in one document,” the letter reads.

The regulator explains that these measures are intended to protect the identities of the SEC experts, attributing their reasons stated in a July 22 sealing motion. Notably, the agency previously granted a similar application to redact the names of two SEC experts, declaring that such redaction is “narrowly tailored to serve interests of witness safety.”

Also, the SEC submits two redaction proposals to block the disclosure of personal financial details of one SEC expert. Lastly, they posit to remove the names of a non-party and its associates from earlier documents.

This SEC proposal did not sit well with the Ripple community that swarmed lawyer Filan’s thread. User Isco Nice shares their suspicions of the SEC request, tweeting that it “smells fishy.” “[Matter] of fact, this whole case smells more and more rotten,” they added. “SEC [is] controlled by whoever pays the most (bankers + ETH).”

One user also inquired:

[W]hy would the SEC want to hide financial information about an expert witness?

The question was answered with an accusation from a Ripple community member, suggesting that such witnesses were bribed. With months already in, no substantial evidence surfaced that supports these allegations.

Meanwhile, a scheduling update on the SEC vs. Ripple Labs lawsuit was also shared. The two-page document highlights three main points that the court still wishes to resolve.

  • The SEC has filed a letter asking the ruling court of its ongoing lawsuit against Ripple to seal portions of the filings relating to the SEC’s expert witnesses.
  • “In addition, the SEC seeks to have references to a non-party and its representatives redacted in one document,” the letter reads.
  • A two-page document highlighting three main points that the court still wishes to resolve was also shared by defense lawyer James Filan.

The U.S. Securities and Exchange Commission (SEC) has filed a letter asking the ruling court of the ongoing SEC vs. Ripple case to seal portions of the filings relating to the SEC’s expert witnesses.

In a tweet earlier today, defense lawyer James K. Filan shared the one-and-a-half-page SEC request to Judge Analisa Torres that seeks to “seal certain portions of the parties’ oppositions to the Exclusion Motions that contain information of one of the SEC expert witnesses.” Further, the letter appeals to withhold information of one of SEC’s experts relating to earlier filings.

“In addition, the SEC seeks to have references to a non-party and its representatives redacted in one document,” the letter reads.

The regulator explains that these measures are intended to protect the identities of the SEC experts, attributing their reasons stated in a July 22 sealing motion. Notably, the agency previously granted a similar application to redact the names of two SEC experts, declaring that such redaction is “narrowly tailored to serve interests of witness safety.”

Also, the SEC submits two redaction proposals to block the disclosure of personal financial details of one SEC expert. Lastly, they posit to remove the names of a non-party and its associates from earlier documents.

This SEC proposal did not sit well with the Ripple community that swarmed lawyer Filan’s thread. User Isco Nice shares their suspicions of the SEC request, tweeting that it “smells fishy.” “[Matter] of fact, this whole case smells more and more rotten,” they added. “SEC [is] controlled by whoever pays the most (bankers + ETH).”

One user also inquired:

[W]hy would the SEC want to hide financial information about an expert witness?

The question was answered with an accusation from a Ripple community member, suggesting that such witnesses were bribed. With months already in, no substantial evidence surfaced that supports these allegations.

Meanwhile, a scheduling update on the SEC vs. Ripple Labs lawsuit was also shared. The two-page document highlights three main points that the court still wishes to resolve.

 

Latest news