On October 14, lawyer Jeremy Hogan via tweet clarified the “confusion” regarding Judge Torres’ latest order to reveal the Hinman documents in relation to the ongoing Ripple case.
The XRP community felt happy on September 29, when District Judge Torres dismissed the SEC’s objections and commanded it to provide the Hinman paper, in which Hinman argued Ethereum was not a security in a 2018 lecture.
Jeremy Hogan points out an important fact in the lawsuit: the judge ordered the SEC to provide the documents, but did not specify a deadline. Jeremy asserts that the last date for the release will arrive when the judge’s decision is out for appeal.
Jeremy claims that this will essentially take 60 days, or potentially longer if the SEC needs a reconsideration of the ruling, which is still doubtful.
According to James K. Filan’s updates, the SEC was anticipated to submit a petition on October 13, for reconsideration of Judge Torres‘ decision on the SEC objections of Hinman documents.
Hogan believes that the Hinman emails issue could take more time to resolve if the SEC files an appeal for decision. This supports James K. Filan’s earlier claim that the SEC would use a variety of legal strategies to further delay the release of the Hinman data.
Nevertheless, Hogan eased concerns on case delay by stating that the Hinman documents are only useful to the Fair Notice Defense and not the core problem of case that claims XRP was a Security.
Hogan added that Ripple had not filed for summary judgement on the Fair Notice Defense but the SEC had filed it.
Therefore, regardless of how many postponement notices the SEC sends, the case will go on since the Section 5 violation issue (whether XRP is a security) will proceed and be fully informed by Nov. 15th.
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