SEC Files Motion to Redact Portions of Key Documents in Ripple Lawsuit

SEC vs Ripple XRP

As sequel to a January 13, 2022 ruling on the deliberative process privilege (DPP), the Securities and Exchange Commission (SEC) has filed a motion to redact some portions of selected meetings’ notes between the agency’s third parties. 

According to the United States securities regulator, the handwritten portions of the notes it plans to conduct a redaction on are protected by the deliberative process privilege. 

“The handwritten portions in question expressly reflect either (1) the authors’ thoughts regarding subject matters discussed during meetings and/or (2) deliberations among SEC staff during meetings,” excerpts of the motion read. 

The Securities and Exchange Commission noted that it is because of the aforementioned reason it has “respectfully requests that the Court permit the proposed redactions.”

Some of the proposed redactions include Valerie Szczepanik’s notes from a February 2014 meeting, Michael Seaman’s note of an April 2018 meeting, Jonathan Ingram’s notes of the same meeting. 

The decision to grant or deny the SEC’s request for redaction will be left to Judge Sarah Netburn. 

Court Order on DPP 

On January 13, 2022, a court order granted, in part, and denied, in part Ripple and Individual Defendants’, Brad Garlinghouse and Chris Larsen, motion to compel the SEC to produce documents that the plaintiff claimed are protected by the DPP. 

The ruling, which seemed like a major win for Ripple, came after back and forth motions that lingered for over a year. 

While the court acknowledged that the DPP is qualified, it must yield to a higher interest where necessary. 

Despite the acknowledgment of the DPP, the court noted that it will determine whether disclosure of important documents is appropriate based on the relevance of the documents sought to be protected and the seriousness of the litigation among others. 

The SEC v. Ripple lawsuit has continued to linger for more than a year, with new developments unfolding by the day. 

Yesterday, the court granted the SEC’s request to extend the deadline to produce a discovery schedule.  

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