Securities and Exchange Commission v. Ripple Labs Inc.

Background

The Securities and Exchange Commission and Ripple Labs Inc. jointly asked Judge Torres to approve a schedule for sealing and publicly filing materials connected to upcoming remedies-related briefing. The parties said the proposal was intended to provide prompt public access to their briefs while protecting information that might properly remain confidential. The letter also stated that the court had previously approved a similar proposal for the parties’ summary-judgment motions.

Proposed filing schedule

Under the proposal, the SEC would file its opening remedies-related brief and supporting materials under seal on March 22, 2024, then file a public, redacted version on March 26 after the parties met to identify requested redactions. Ripple would file its opposition on April 22. Depending on whether the materials included information designated confidential or highly confidential under the protective order, Ripple would either file public versions or file under seal and then file public, redacted versions after meeting with the parties.

The SEC would file its reply under seal on May 6 and a public, redacted version on May 8. On May 13, the parties and any third parties would file combined letter-motions to seal the remedies-related materials and proposed redactions. Responses opposing those motions would be due May 20. The proposal also required public, redacted versions of all covered documents within 14 days after the court ruled on the combined sealing motions.

Ruling

Judge Analisa Torres granted the joint proposal and ordered that it take effect. The order addressed the process for filing and reviewing redactions; it did not decide the underlying remedies issues or the final confidentiality status of any particular material.