Ripple filed their Opposition to SEC and Judge Netburn’s deliberative process privilege (DPP) Ruling
Ripple was recently in the news as a result of its ongoing lawsuit with the Securities and Exchange Commission (SEC) and its use of two newly revealed regulatory memos.
Ripple files opposition to DPP ruling, claiming SEC is simply seeking a “do-over”
Defense Attorney James K. Filan recently informed XRP community members that Ripple has filed their Objection with the SEC and Judge Netburn’s deliberative process privilege (DPP) Ruling.
The SEC wants to compel the company to provide notes made by Matthew Founding, an advisor to former SEC Commissioner Elad Roisman; however, Filan observes that the SEC is merely seeking a “do-over.”
By making public the initial filing from February 2012 and the second memo made a “compelling argument” that the planned tokens would not be subject to federal securities laws; The company outlined how it obtained its guidance, winning a battle in the court of public opinion.
“Ripple and the Individual Defendants have filed their Opposition to the SEC’s Motion for Partial Reconsideration and Clarification of Judge Netburn’s DPP Ruling, noting that the SEC is simply seeking a “do-over”, Filan stated.
#XRPCommunity #SECGov v. #Ripple #XRP Ripple and the Individual Defendants have filed their Opposition to the SEC’s Motion for Partial Reconsideration and Clarification of Judge Netburn’s DPP Ruling, noting that the SEC is simply seeking a “do-over.”https://t.co/9D2esv0Key
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) February 25, 2022
By making public the initial filing from February 2012 and the second memo there was “a compelling argument” that the planned tokens would not be subject to federal securities laws; the company was outlining how it acquired its guidance, winning one battle in the court of public opinion.
The aforementioned notes, made during a 2018 meeting between Elad Roisman and Brad Garlinghouse, came to light in January 2022, when Estabrook was clearing up his desk in preparation for his departure from the SEC.
Ripple previously filed a request to force the SEC to turn over the notes of the Incorporation after the agency requested the DPP and refused to turn them over to the company. On the other hand, Ripple insists that the notes are not protected and therefore should be made public.
According to the company, the Ripple CEO’s departure from the meeting was recorded by the SEC, which leads the business to believe that the SEC has acknowledged the legal “purgatory” presented by regulatory uncertainty.
Ripple’s top lawyer, Stuart Alderoty, slammed the SEC for ‘offensive’ use of unsealed legal memos. As seen by the recent price movements, the token seems to have moved on from the aftermath of the SEC lawsuit. In parallel with the expansion of Ripple’s payment system network, the price of this asset is increasing in the future with the larger market.
“The fact that you would have a government agency trying to take these memos and use them like a sword, or as a bludgeon, rather than applauding a company that was doing the right thing, as general counsel of the company, but also just a lawyer who’s been practicing for 35 years, I find that incredibly offensive,” the Ripple GC said.
The SEC should have examined the Perkins Coie memoranda and used Ripple as an example of proactive compliance.
XRP/USD 4-hour chart | Source: TradingView
Currently, XRP is trading at $0.76165, up 6% in the last 24 hours and down 4% in the previous seven days with a market value of $36 billion.
If the positive sentiment around those interested in buying Ripple continues to prevail, the value of the cryptocurrency is likely to hit $1 and much higher by the end of 2022. Hence, if the case is determined in favor of Ripple, the asset’s positive sentiment will almost certainly become stronger and the asset’s price could be pushed above the $1 mark as a result of this decision.
Therefore, Ripple price prediction can help you determine if the cryptocurrency can reach that level of value.
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Read more:
- Due To Its Ongoing Litigation With SEC And The Use Of Two Freshly Disclosed Legal Memos, Ripple Has Lately Been In The Spotlight
- Ripple Has Taken An Offensive Approach When Dealing With The Ongoing Lawsuit With The SEC