Judge ordered SEC to turn over emails but did not specifically state when
Concerning the ongoing Ripple lawsuit, Attorney Jeremy Hogan has taken to Twitter to clarify a seeming “confusion” as to Judge Torres’ recent order to release the Hinman documents.
Brief update on the Ripple v. SEC case:
“I see some confusion, therefore I Tweet.”
On Sept. 29, Judge Torres overruled the SEC’s objections to turning over the Hinman emails but did not say when they must be turned over. Therefore… 1/? https://t.co/KoGrgmrei0
— Jeremy Hogan (@attorneyjeremy1) October 14, 2022
On Sept. 29, the XRP community was enthused after District Judge Torres overruled the SEC’s objections and ordered it to turn over the Hinman documents wherein he stated Ethereum was not a security in a 2018 lecture.
Jeremy Hogan highlights a key fact: the judge ordered the SEC to turn over the emails but did not specifically state when. He claims that the deadline for the release will come when an appeal of the judge’s ruling is due.
He says that in essence, this will take about 60 days, or possibly more if the SEC seeks to have the decision reconsidered, which remains unlikely.
Ads
If the SEC were to file a motion for reconsideration of Judge Torres’s ruling on the SEC objections regarding the Hinman documents, this was expected to be due yesterday, Oct. 13, per updates provided by James K. Filan.
Hogan believes that the Hinman emails may take a longer time to resolve if the SEC appeals the ruling. This is in line with the view expressed earlier by James K. Filan, who suggested that the SEC would use several procedural tricks to further delay the release of the Hinman records.
Hinman emails relevant to fair notice defense
However, Hogan calmed fears regarding a delay in the case by saying that the Hinman emails are probably only relevant to the Fair Notice Defense and not the lawsuit’s main contention — whether XRP was a security.
Additionally, he emphasized that Ripple did not file for summary judgment on the Fair Notice Defense; only the SEC had.
The lawsuit will therefore continue regardless of how many postponement notices the SEC issues, as the Section 5 violation issue (whether XRP is security) will move forward and be fully briefed by Nov. 15.