2024

James

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In the ongoing <a href="https://u.today/ripple-ceo-speaks-out-addresses-major-lawsuit-filing" rel="noopener noreferrer nofollow">Ripple lawsuit</a>, the SEC has filed its remedies reply brief and supporting exhibits under seal,&nbsp;a move that&nbsp;precedes the release of a public version and additional sealed filings.
<a href="https://twitter.com/FilanLaw/status/1787623177620688988" rel="noopener noreferrer nofollow">James K. Filan</a>, a former federal prosecutor who usually shares updates on the Ripple&nbsp;lawsuit,&nbsp;disclosed that the SEC has filed, under seal, its remedies reply brief and supporting exhibits.
<blockquote>
 <a href="https://twitter.com/hashtag/XRPCommunity?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRPCommunity</a> <a href="https://twitter.com/hashtag/SECGov?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SECGov</a> v. <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ripple</a> <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> The <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@SECGov</a> has filed, under seal, its remedies reply brief &amp; supporting exhibits. These documents are not yet public. Public, redacted versions will be filed by Wednesday, May 8, 2024. Other sealing-related filings will follow. See below. <a href="https://t.co/ENnkh6oW9H" rel="noopener noreferrer nofollow">pic.twitter.com/ENnkh6oW9H</a>— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) <a href="https://twitter.com/FilanLaw/status/1787623177620688988?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 6, 2024</a>
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The sealed nature of the filing indicates that it contains confidential information&nbsp;that is&nbsp;not yet ready for public consumption. The&nbsp;public, redacted versions&nbsp;are expected&nbsp;to&nbsp;be filed&nbsp;by Wednesday, May 8, 2024.
That said,&nbsp;the crypto community is eagerly awaiting the redacted versions, which will shed light on the SEC's arguments and the potential implications for Ripple and the XRP cryptocurrency.
Filan shares that other sealing-related filings&nbsp;are expected&nbsp;to follow, sharing a document highlighting upcoming deadlines.&nbsp;
On May 7, 2024, Ripple and the SEC&nbsp;are expected&nbsp;to meet and confer to identify redactions sought by each side and by third parties, if any, to the reply brief and exhibits.&nbsp;
On May 8, 2024, the SEC&nbsp;is expected&nbsp;to file a public, redacted version of its recently released reply brief and any supporting exhibits not designated by either party or any third parties as confidential or highly confidential under the protective order.&nbsp;
On May 13, 2024,&nbsp;both&nbsp;parties and any third parties&nbsp;are expected&nbsp;to file omnibus letter motions to seal all materials relating to the remedies-related briefing, including briefs, declarations and supporting exhibits.&nbsp;They would also file proposed redactions to such materials.
On May 20, 2024, the parties and any third parties&nbsp;are expected&nbsp;to file letter briefs&nbsp;in opposition to&nbsp;omnibus letter motions to seal. Under&nbsp;the joint proposal, the parties would&nbsp;further&nbsp;be required&nbsp;to file publicly redacted versions of all documents within 14 days of the court's rulings on the omnibus sealing motion.
The&nbsp;foregoing&nbsp;deadlines may indicate that the&nbsp;major&nbsp;filings in the remedies phase have&nbsp;been made, leaving only deliberations on which&nbsp;materials would be sealed.
As the <a href="https://u.today/ripple-lawsuit-sec-has-never-been-weaker-sologenic-co-founder-says" rel="noopener noreferrer nofollow">SEC</a> has&nbsp;now&nbsp;filed its final reply brief in the remedies phase, the crypto community awaits the final court decision and its potential implications for Ripple, XRP and the broader crypto market.

Ripple Lawsuit: SEC Drops Pivotal Filing, Here's What Might Follow

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