MoneyGram has asked the U.S. District Court for the Southern District of New York to keep certain details of its summary judgment materials in the lawsuit between Ripple and the SEC confidential.
The cross-border payments company stated that it wants to protect business information and employee identities. The SEC and Ripple requested a summary judgment in September.
The SEC filed a lawsuit against Ripple and its executives in December 2020, alleging that the sale of XRP constituted an offering of unregistered securities worth over $1.38 billion.
In February 2021, MoneyGram suspended trading on Ripple’s platform due to litigation uncertainty, ending a relationship worth around $2 billion in on-demand liquidity transactions.
A judge recently granted an extension until January 13 for all parties to submit their Daubert Motions, which would exclude certain expert testimonies, and other related documentation.
