The judge rejects the SEC’s request to suppress important papers in the Ripple case.

July 13, 2022

After the SEC litigation is resolved, Ripple is considering an IPO, according to its CEO.


The judge rejects the SEC’s request to suppress important papers in the Ripple case.

SEC v. Ripple, a recent court case revealed that Judge Nedburn denied a request from the U.S. Securities and Exchange Commission to withhold internal documents. Documents related to a speech by then CFO William Hinman dated June 14, 2018. During the speech, Hinman gave the green light to bitcoin and ether, both of which do not qualify as securities and are therefore exempt from registration under U.S. securities laws. In this movement, the foreseeable documents are made on registrations that protect confidential communication between lawyers and clients against the compression of third parties.However, Justice was not ordered to send the SEC for the camera review. This concerns the process of studying confidential or important information to determine whether it is used by one party or the public. Judge the lawyer Netubna claims an attack on response for the privilege of a defense lawyer, Judge Netbn stated that relationships with a lawyer must be proven and that the message must be confidential, and the “main purpose” of communication is access or giving legal advice.

According to the case, SEC as a manager of Genman SS said he was a lawyer and seeks legal advice on creating and editing lectures and are confidential documents. The wave increased the case communications between lawyers of Hinman and SEC are very accurate as “political counseling”, which means that the claim is a good or bad idea.”The law was decided by political counseling, for example, whether it is a good idea or a bad idea to give a specific public statement to a public person or communication consultation,” he said.Judge Navborn wrote that consulting policy is different from legal advice, even though he received a consultative lawyer. In this case, communications between Hinman and SEC attorneys regarding the speech were not protected by the attorney-client privilege.The judge ordered the SEC to provide the necessary documents for the closed hearing.

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