According to Ripple, the non-party has no legitimate reason to seek the court to keep his identity, job title, and employer confidential.
A non-party in the current SEC lawsuit, Investment Banker Declarant, has submitted a motion that Ripple, a leading blockchain startup, has opposed. Earlier this month, Investment Banker Declarant requested permission from the court to redact additional sections of the declaration submitted in support of the SEC’s move for summary judgment.
Due to fears of potential threats if the information is made public, the non-party had asked the court to strike his name, position, and employer from the declaration.
It is important to note that the Investment Banker Declarant’s declaration is intended to aid the SEC in its inquiry into Ripple’s alleged violation of U.S. securities law.
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Ripple’s Change of Heart
Investment Banker Declarant had been first assured by Ripple and Individual Defendants Brad Garlinghouse and Chris Larsen that they do not oppose or approve of his motion.
Nevertheless, the Defendants changed their minds and formally opposed the Investment Banker Declarant’s motion.
“Defendants Ripple Labs, Garlinghouse, and Larsen oppose the letter motion by Investment Banker Declarant, which seeks to redact his declaration to shield from public view his name, position, and the name of his employer,” an excerpt of Ripple’s opposition read.
According to Ripple, the non-party voluntarily filed the declaration in support of the SEC’s motion for summary judgment. As Ripple pointed out, the non-party did submit the declaration voluntarily, so there is no compelling reason for the court to withhold his name, position, and employer.
The top blockchain corporation added that the non-party’s example is inappropriate. It further stated that none of the cases granted sealing for a declarant who voluntarily submitted a sworn statement at the summary judgment stage.
James K. Filan, a prominent defense attorney who has been updating the XRP community on pertinent facts regarding the current lawsuit, provided Ripple’s opposition to the declarant’s motion.
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