SEC Doesn’t Oppose Ripple’s Request to Seal Third-Party Information in Motions to Exclude Expert Testimonies, But…

The SEC will not object to Ripple’s sealing request for Daubert motions only but reserves its right to oppose the request during summary judgment.

The Securities and Exchange Commission (SEC) has noted in a recent letter that it does not object to Ripple’s request to seal the identities of third parties regarding motions to exclude expert testimonies. 

Ripple Sought to Seal Third-Parties’ Information

It can be recalled that last week, the blockchain company and two of its executives requested to file under seal three categories of information submitted by the parties opposing the motions to exclude expert testimonies. 

The information Ripple sought to seal included the identities of two of its employees, identities of non-parties, and personal financial information for a particular company employee. 

Ripple asserted that its proposed sealing request is narrowly tailored to protect third parties’ privacy interests. 

According to Ripple, the third parties expressed their desire for narrowly-tailored redaction to protect their private interests. 

The blockchain company buttressed its point by stating that the identities of the third parties it seeks to redact are irrelevant to the Daubert motions, adding that the parties are not named as defendants in the suit. 

SEC’s Response to Ripple’s Sealing Request

Commenting on the development, the Securities and Exchange Commission said it does not oppose Ripple’s requests to seal third-party information. 

Per the SEC, this is because Ripple built its proposition on the basis that the applicable sealing standard for Daubert motions is lower than dispositive motions. 

“Based on defendants’ representation that they consider the standard for sealing the Daubert motions to be different than for summary judgment motions, the SEC does not oppose Defendants’ motion,” the commission stated. 

The SEC said it does not agree that Ripple should properly seal the categories of information during the summary judgment briefing, adding that it reserves the right to oppose such requests. 

Meanwhile, the development was shared by attorney James K. Filan, a former federal prosecutor. 

#XRPCommunity #SECGov v. #Ripple #XRP The SEC, for purposes of Daubert motions only, doesn’t object to Ripple’s request to seal (1) identities of non-parties; (2) identities of certain Ripple employees; and (3) personal financial information for a Ripple employee. pic.twitter.com/58gH46tks1

— James K. Filan ???? 110k (beware of imposters) (@FilanLaw) August 26, 2022

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