Browsing:Ripple Vs SEC

Ripple Labs requested the court to keep certain documents connected to the SEC's Motion for Judgment confidential.
3 days ago 2 mins read

Ripple Labs requests the court to seal sensitive documents in the US SEC case to protect its financial data

Ripple Labs requested the Southern District of New York to keep certain documents connected to the SEC’s Motion for Judgment and Remedies on May 13, 2024, confidential. The “Remedies Materials” provide financial data, including audited accounts, revenue, and expenses. Attorney Andrew J. Ceresney, representing Ripple, sent a letter to Judge Analisa Torres to clarify the motion. According to him, revealing Ripple’s financial status, business tactics, sources of income, and expenditure arrangements to competitors and customers would negatively impact its competitive stance. Ripple prioritizes the secrecy of its audited financial statements and related documentation. Ceresney asserts that the disclosure of these