Major development in SEC-RIPPLE lawsuit as the court denies agency’s attorney client motion.
The US Securities and Exchange Commission is pushed further to the corner as the court has denied the agency another motion relating to William Hinman’s 2018 speech. US District Court ruled that there is no need to examine whether an attorney-client relationship existed between William Hinman and the SEC lawyer as the court noted there is predominant evidence that the primary reason behind Hinman and SEC lawyer’s communication was not to obtain legal advice. As reported yesterday, in the same ruling Magistrate Judge Sarah Netburn has accused the SEC of being hypocritical.
The court had stated that SEC’s argument that Hinman’s speech is not relevant to the lawsuit and it arguing at the same time that Hinman sought legal advice contradicts each other. It is to be remembered that SEC’s attorney-client motion is the second one in relation to Hinman’s speech that has been denied by the court. The court has also previously denied the agency’s DPP (Deliberative Privilege Process) motion.
Notably, before that SEC had continuously been arguing to the court that the content of Hinman’s 2018 speech does not represent the agency and that the remarks given by Hinman were his personal opinions.
Moreover, under the attorney-client motion SEC was trying to argue that because agency’s former official William Hinman had sought legal advice from SEC lawyer, there exists an attorney-client relationship between the two. Under which the communication between Hinman and the lawyer are protected.
Now that the SEC is denied by the court, Magistrate Judge Sara Netburn has asked the agency to present her documents for an in-camera session. In the in-camera session the judge will examine the documents and decide whether the Ripple should be granted access to documents or not.
SEC Commissioner Acknowledges Misleading Evaluation of XRP Under the Howey Test
What is a Data Room and Why is it Essential for Your Due Diligence Process?
$226 Million Worth of XRP are Sold by Ripple in Q4 2022, as the ODL Sees Significant Growth
CryptoLaw Founder John E. Deaton, Highlights a few Key Factors that May Influence Court’s Decision on Summary Briefs
A Huge Sum of XRP Tokens Transferred During the Past 24-hours, as The Coin Seems Stuck at $0.41
Recent Press Release
5 Crypto Platforms That Pay You To Enhance Your Crypto Knowledge
The cryptocurrency market is growing at breakneck speed and so is the demand for knowledgeable crypto enthusiasts. With cryptocurrencies being...
The Beginners Guide to Bitcoin Buyer : What You Need to
Bitcoin is a decentralized digital currency. It is a form of digital asset that can be exchanged between individuals in...
Bitcoin and AI: 4 Benefits that Will Change the Economic World
There are essentially two key technological shifts that you just cannot overlook. The foremost is the renaissance of AI techniques,...
Listing Down the Top 5 Benefits of Trading With AI
“What fire was to the cavemen, AI is to commerce.” That is how one business stakeholder characterized how a technological...
Crucial Trading: Pool Of Luxurious Floor Coverings
David and Jannet Green from London took the foundation of Crucial Trading in 1986, a house of quality full carpets...