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The Securities and Exchange Commission (SEC) and Ripple Labs' legal dispute has taken a new turn after Magistrate Judge Sarah Netburn rejected the SEC's request for attorney-client confidentiality.
Denied: The SEC's Request for Attorney-Client Privilege
According to a story from last week, the SEC filed an omnibus petition to limit (or remove) expert testimony from the Hinman materials. After acknowledging the motion, the Ripple team submitted a counter-move of their own. Judge Sarah Netburn rejected the request to exclude the testimony on Tuesday, July 12. Bill Hinman, the former head of the SEC, said in a speech that Ether (ETH) wasn't a security in the document that the SEC tried to conceal.
Judge Sarah Netburn rejected the motion and criticised the SEC's duplicity in attempting to conceal the Hinman documents.
A few hours prior to the decision, Ripple Labs criticised the SEC for trying to "hide the identities and opinions of its experts from any public examination."
The legal team for Ripple further asserts that the SEC's plea was a gross abuse of the Protective Order in an effort to keep the public from learning about criticism of its experts.
For detailed info on the case please visit Here
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