Defense attorney James Filan shared the latest court filings. Ripple filed a Motion to Seal a selection of documents relating to the SEC Motion for Judgment and Remedies.
Ripple requested the sealing of sensitive and confidential material, including audited financial statements and documents outlining existing business relationships. The filing stated that the audited financial statements and other related documents are nonpublic, supporting the Motion to Seal.
Ripple Chief Financial Officer Jonathan Bilich filed a declaration supporting the Ripple Motion to Seal, stating,
“I attest that the information Ripple seeks to redact is highly sensitive and confidential business and proprietary information. Its disclosure to the public would be detrimental to Ripple’s business relationships with customers and other counterparties and harm Ripple’s competitive standing in the market place.”
According to the court schedule, the SEC, Ripple, and any third parties must file letter briefs opposing the omnibus letter motions by May 20. The Parties must then file redacted versions of all documents within 14 days of the court’s ruling on the omnibus sealing motions.
With the SEC and Ripple progressing through the final stages of the case, speculation about the likely penalty for Ripple breaching US securities laws will likely intensify.
