Brad Garlinghouse and Chris Larsen, Ripple defendants in the lawsuit against US SEC have filed an opposition letter to the commission’s proposed redactions.
Ripple’s letter not possess any risks
In the letter, the Defendants mentioned that the SEC’s proposed redactions are “extensive”. This should not be granted without seriously undermining the tradition of an open judicial system. It highlighted that even while sealing documents on the grounds of safety, the court has only permitted some narrow redactions. The details like names and locations of witnesses have been censored earlier.
Defendants argued that the suggested redactions have nothing to do with claimed safety concerns. The letter highlights that the motions do not even mention the expert’s name. Thus it does not pose any risk.
The SEC has asked to seal three things from Ripple’s reply. The authority has appealed against (1) the description of a flaw in the expert’s methodology. (2) Argument which mentions inconsistency of SEC’s take on its sealing request. (3) two other arguments highlight the authority’s position.
Is SEC still using delay tactics?
The letter added that non of the suggested redactions disclose any of the important facts related to the expert.
They are on their face, about shielding the SEC from public criticism, mentioned Defendants.
The US watchdog has been trying to delay the outcome of the crucial lawsuit. It has applied different assertions to protect some most important documents like Hinman’s speech and related emails.
Meanwhile, the Defendants assert that the authority insists that publishing filed motion should not be permitted as it is “inflame the discourse”. This argument is antithetical. It doesn’t fulfill the right of public to get access to case related details.
The court should reject the commission’s appeal as they have not presented the proper basis required for sealing, concludes Defendant.
On the market side, XRP prices registered a growth of around 10% over the past 7 days. It is trading at an average price of $0.35, at the press time.
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