On September 29, District Judge Torres disregarded the Ripple – SEC’s objections and ordered the Hinman records to be turned over. The SEC’s application for reconsideration of Judge Torres’ order on the Hinman documents was due on October 13, according to James K. Filan. According to current accounts, this has yet to be filed.
Ripple Lawsuit: John Deaton Discusses Key Thing as SEC Fails To Move On Hinman Documents
Earlier, James K. Filan suggested that the SEC utilize various procedural maneuvers to further postpone the release of the Hinman data. If the SEC decides not to file a motion for reconsideration by the Oct. 13 deadline, it might ask Judge Torres to certify an appeal of the ruling. Jeremy Hogan stated that an appeal of the judge’s judgment would be required 60 days after the judgment.
Also, the SEC could go to the Court of Appeals directly on a petition for a writ of mandamus. Filan notes that the SEC may try any or even all of these maneuvers, which could take two to three months to work out. However, the XRP community continues to keep its fingers crossed for the release of the Hinman documents.
Attorney Jeremy Hogan stated that the Hinman emails were probably only relevant to the fair notice defense and not the lawsuit’s main contention — whether XRP was a security. He highlighted that Ripple did not file for summary judgment on the fair notice defense; only the SEC had.
As I’ve said, #XRPHolders NEVER want to see Judge Torres rule on the fair notice defense. If she does it is b/c she decided that XRP is or was a security. For @Ripple, the FND is akin to being an insurance policy. It only comes into play if Ripple loses on the security issue. https://t.co/mbr3rPlScx
— John E Deaton (219K Followers Beware Imposters) (@JohnEDeaton1) October 14, 2022
According to CryptoLaw founder John Deaton, the fair notice defense is like an insurance policy that kicks in only if Ripple loses the primary point of the lawsuit – whether XRP is a security. He says that if the SEC wins, which he believes will not, Ripple will not have to pay or pay less since the judge ruled that it did not receive fair notice. Because John Deaton believes Ripple will win the litigation, the court may not rule on the fair notice defense.
Read more:
- The Market Sees Half A Billion XRP Transferred While XRP Price Drops From The $0.5 High
- Concerning The Ongoing Ripple Lawsuit, Judge Ordered SEC To Turn Over Emails But Did Not Specifically State When