SEC v. Ripple – How did agency’s ‘Estabrook Notes’ win affect XRP
Ripple Labs, the San Francisco-based fintech firm, has maintained its offensive attacks against the SEC amidst the ongoing lawsuit. However, it might be time for its supporters to put some hard brakes on that “winning” sentiment.
Ripple, via defendant Brad Garlinghouse, had filed a response to the SEC’s opposition to the motion to compel the production of the “Estabrook Notes.” As per the 28 February filing, the defendant sought disclosure of the notes of a 2018 meeting between former SEC Commissioner Elad Roisman and Ripple’s CEO. This, mainly to prove that Ripple executives made efforts to stay compliant with US securities law.
Alas, the SEC cited “privilege.”
Well, it’s that latter that made headlines today. On 20 April, Judge Netburn denied Garlinghouse’s Motion to Compel Production of the Estabrook notes. The Court stated that “Estabrook’s notes are no different from the notes the Court previously found to be protected by the privilege.”
Attorney James Filan shed light on this development by tweeting,
<p lang=«en» dir=«ltr» xml:lang=«en»>#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: Judge Netburn denies Garlinghouse's Motion to Compel Production of the Estabrook notes. The Court states that «Estabrook’s notes are no different from the notes the Court previously found to be protected by the privilege.» pic.twitter.com/m4gI1mj1uq— James K. Filan
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