Thursday, June 17, 2021

Ripple-SEC Lawsuit: Judge Denies SEC’s Arguments, Says It Must Produce Its Internal Documents

The lawsuit between Ripple, the US-based cross-border payment firm, and the United States Securities and Exchange and Commission (SEC), continues to advance with each passing day.

The case took another turn in favor of the payment behemoth, following the insistence of the Judge for the regulatory agency to produce its internal documents that contain its discussion about XRP, Bitcoin (BTC), and Ethereum (ETH).

Read Also: Jeremy Hogan Found Docs Where SEC Says “digital CURRENCY company called Ripple Labs”, Says SEC Must Explain In Court

In a letter dated 6th May 2021, signed by Judge Sarah Netburn, the important things that must be included in the documents were highlighted by the judge.

The new development was excitedly shared in a tweet by Attorney Jeremy Hogan and a defense lawyer and former federal prosecutor, James K. Filan.

Jeremy Hogan tweeted, “The SEC made two arguments as to why it didn’t have to disclose the internal memoranda re BTC, ETH and XRP. The Judge denied both of those arguments and is saying “No, you really DO need to disclose those documents.” PS. This Judge is very polite when rebuking a party!”

Read Also: Judge Says Tetragon Is Wrong, XRP Has Not Been Officially Declared a Security

Court Now Fully Aware of the High Interest of the Public in the Ripple-SEC Lawsuit

About a week ago, Jeremy Hogan, the partner at the Hogan & Hogan law company, shared the fact that the court is now fully aware of the high interest of the public in the securities lawsuit between Ripple and the SEC.

In a tweet on 30th April, Hogan described what played out in the court in favor of Ripple as a mission accomplished. According to the lawyer, he’s quoting from Judge Netburn’s statement, which represents the fact that the case is playing out as planned for Ripple.

Read Also: Cost-Efficiency, Speed, and Scalability Make XRP a Crypto That Deserves SEC’s Fairness

Jeremy Hogan tweeted, “Congratulations XRP People. By the start of the hearing today the telephone system MAXED OUT at 4k listeners! The Court is very aware of the “High Interest” in the case (quote from Judge Netburn). MISSION ACCOMPLISHED! I need to finish up some pleadings and then home to video!”

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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