The court rejected the US Securities and Exchange Commission’s (SEC) motion to block the disclosure of internal documents in the case against Ripple. The regulator relied on the privilege of attorney-client privilege in its request.

#XRPCommunity #SECGov v. #fluctuation #XRP CONCLUSION: Magistrate NETBURN REJECTS SEC’S CLAIMS OF LAWYER-CLIENT PRIVILEGE. “THE IMPORTANT PURPOSE OF COMMUNICATION WAS NOT TO PROVIDE LEGAL ADVICE. DOCUMENTS MUST BE PRODUCED.”https://t.co/Ze5kCf1JKP

– James K. Filan 🇺🇸🇮🇪 105k (beware of scammers) (@FilanLaw) 12 July 2022

We are talking about the text of the 2018 speech of the former director of the corporate finance department of the regulator William Hinman. He then stated that Bitcoin and Ethereum are not securities for various reasons.

The SEC argued that Hinman’s speech reflected his personal views. In February, the Commission filed a petition with the court in which the former employee expressed the position of the corporate finance department. The department is expected to extend the action DPP to drafts of speech.

In a July 12 decision, Judge Netburn described the regulator’s position as hypocrisy. He pointed out that the former employee “despite having consulted an SEC attorney in preparing his speech,” the Commission sought to steer clear of the conversation.

According to the judge, this shows the department’s desire to achieve its goals, not “fidelity to the law.”

According to attorney Jeremy Hogan, the SEC has 14 days to appeal. If this does not happen or the decision remains the same, the Commission will have to provide the documents.

It wasn’t even a nuanced view. Judge Netburn smashed all SEC arguments regarding attorney-client privilege of Hinman emails.

This starts the 14-day period to appeal Judge Torres. And if his last Orders are precedent, things will move relatively quickly. https://t.co/7k6KJx4Lea

— Jeremy Hogan (@attorneyjeremy1) 12 July 2022

Delphi Digital General Counsel Gabriel Shapiro described Netburn’s decision as “a huge tactical victory for Ripple.”

“hypocrisy” I guess is the word of the day… First against Musk on Twitter, now here, the judge calls the SEC’s litigation tactics hypocritical: Hinman speech

great job by Ripple’s lawyers to take this point to court pic.twitter.com/vechK4UdPx

— _gabrielShapir0 (@lex_node) 13 July 2022

Earlier, the Fox Business channel aired an extensive investigation into the SEC case against Ripple. Journalists concluded that employees of the department behind the filing of the lawsuit may have been linked to Ethereum.

In August 2021, nonprofit Empower Oversight drew attention to a possible conflict of interest in the actions of former top SEC officials.

At the end of 2021, Deaton Law Firm stated that the SEC showed greater loyalty to Ethereum than the XRP token.

Recall that Ripple chairman Brad Garlinghouse positively evaluated the course of the trial with the regulator and allowed it to be completed by the end of 2022.

Davis Polk law firm partner and former SEC official Joseph Hall described the Commission’s chances of losing the substantive case as high. However, he expressed his doubts that the process will be completed soon.

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