SEC vs Ripple: Court Battle Over Sealing of Hinman Documents Heats Up

• The legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple has seen renewed activity, with Ripple Labs Inc., CEO Brad Garlinghouse, and Executive Chairman Chris Larsen filing their opposition to the SEC’s motion to seal certain documents related to the parties‘ mutual summary judgment motions.
• Both parties are primarily fighting over the sealing of the Hinman documents in their briefs, with Ripple arguing that the documents are relevant beyond their relevance to the impeachment.
• The SEC has filed its response to the partial opposition to Ripple’s motion to seal certain documents related to the summary judgment.

The United States Securities and Exchange Commission (SEC) and Ripple Labs Inc. are engaged in a legal battle that has recently seen renewed activity. Ripple Labs Inc., CEO Brad Garlinghouse, and Executive Chairman Chris Larsen have filed their opposition response to the SEC’s motion to seal certain documents related to the parties’ mutual summary judgment motions. The documents in question are known as the Hinman documents, referring to the testimony of attorney Bill Hinman.

Ripple is arguing that the documents are relevant beyond their relevance to the impeachment, and that the presumption of public access to court documents is currently at its strongest because the case has progressed to the summary judgment stage. As such, they are arguing that the Hinman documents should not remain sealed absent compelling reasons. The SEC has responded by filing a response to the partial opposition to Ripple’s motion to seal certain documents related to the summary judgment.

In the response, the SEC argued that the documents are confidential, and that the information contained within them is of a sensitive nature. They argued that the documents should remain sealed in order to protect the individuals involved from potential harm or embarrassment. The SEC also argued that the documents are irrelevant to the current proceedings, and that the public interest in keeping them sealed far outweighs any public interest in having them released.

The legal battle between the SEC and Ripple is ongoing, with both sides continuing to fight over the sealing of the Hinman documents. It remains to be seen how the case will progress, but it is clear that the outcome will have significant implications for both parties. It could also set a precedent for future cases involving the SEC and other companies. For now, however, the documents remain sealed, and the public will have to wait until the court reaches a decision.