The SEC will ask the court to seal certain documents related to former director William Hinman’s declaration regarding XRP’s status as a security.
- The SEC will ask the court to seal certain documents related to former director William Hinman’s declaration regarding XRP’s status as a security.
- The SEC says it wants to keep those documents sealed because they are part of an ongoing investigation.
The SEC will ask the court to seal certain documents related to former director William Hinman’s declaration regarding XRP’s status as a security.
The judge has not yet ruled on this request, which would keep these confidential documents out of the public eye.
We will soon know whether the SEC was successful in its attempt to seal the Hinman documents. If it does not succeed, then there is a chance that we will one day see these records in full and be able to come to our own conclusions about them.
Hinman Documents Concealed By SEC
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The Securities and Exchange Commission (SEC) is requesting that the court limit public access to documents relating to comments by former director of corporation finance William Hinman in the Ripple lawsuit, Forbes reports on June 17.
As per the report, the SEC filed a motion in the Southern District of New York on June 14 asking Judge Analisa Torres to restrict public access to certain exhibits in its motion to dismiss the XRP holders’ lawsuit against Ripple Labs. The basis for this filing appears to be a concern that public distribution of these exhibits would harm investor protection and cause “market disruption” through confusion. While not explaining fully what materials it wants restricted, Forbes notes that it is likely referring to exhibits containing statements by Hinman about XRP being not a security because it serves a utility function, as reported in February 2018.”
