LIVE at the SEC v. Ripple hearing: XRP Holders vow to “max out conference call”

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Judge Sarah Netburn has scheduled a telephone conference for today, 12:00 pm EST (New York time), to settle the privilege dispute that has been dragging on since April.

The SEC has argued its internal documents, which include the agency’s discussions over the nature of XRP and ETH, are protected by DPP (Deliberative Process Privilege).

That has been dismissed before by the Judge, two times already, as the Court considers those documents relevant to Ripple’s fair notice defense. The result of today’s hearing may well be a major win for Ripple.

The defendants have recently explained those documents will expose the agency’s contradictions in its decision-making throughout the years, which proves the SEC didn’t provide fair notice that XRP could be considered a security.

William Hinman’s deposition has already provided a general feel that regulatory clarity is something lacking in the SEC’s communications. Jeremy Hogan, an attorney friendly with the XRP community, has pointed out two bombshells in that deposition that could strengthen the fair notice defense.

The SEC yesterday filed a motion to compel Ripple to hand over recordings of specific meetings. “Ripple never informed the SEC that Ripple routinely recorded staff meetings until a key former Ripple employee testified to that in her deposition earlier this month”, said the plaintiff.

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XRP Holders vow to “max out conference call”

Judge Netburn has published the dial-in for tomorrow’s discovery hearing (8/31) at 12:00pm EST (16:00 UTC):

USA: (844) 867-6163

INTL: (409) 207-6969

Access Code: 9453921#

Unauthorized recordings will be investigated and anyone found to engage in such behaviors may be subject to criminal sanctions, Judge Sarah Netburn said in a letter.

John Deaton, lawyer for the nearly 20,000 XRP Holders that filed a motion to intervene in the SEC v. Ripple lawsuit, has called his following to max out the conference call. The hearing is limited to 4,000 listeners.

The SEC has already complained about the enormous popularity of these hearings: “Given the high level of interest in this litigation, participation by thousands of investors has already proven “incredibly disruptive” to Judge Netburn’s court conferences.”

“Let’s max out the conference call but give them zero to complain about”, John Deaton said.

 

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