Judge Approves Investment Banker as Declarant in SEC vs. Ripple Legal Battle – Here's the Latest
In the latest development of the legal case between the United States Securities and Exchange Commission and Ripple Labs, Judge Analisa Torres has approved the participation of an investment banker declarant, Andrew A. Kunsak.
As stated in the court filings, US Southern District Court Judge Torres's authorization of Andrew A. Kunsak, from Sidley Austin LLP, to act as an investment banker declarant in the US SEC v. Ripple Labs lawsuit is to prevent the disclosure of court-sealed sensitive information.
"Andrew A. Kunsak of Sidley Austin LLP, 787 Seventh Avenue, New York, New York 10019, a member of this Court in good standing, hereby respectfully enters an appearance for Investment Banker Declarant in the above-captioned action."
Ripple had objected to a similar instance involving an investment banker declarant from the law firm supporting the SEC's stance. This recent development has raised significant worries for the defendants.
With the introduction of the investment banking declarant, the court seeks to tackle problems linked to orders that denied the SEC's wish to seal the Hinman speech documents and Ripple's request to safeguard confidential information about its executives' finances.
On May 16, the US securities regulator's bid to keep internal discussion records from a speech by former director William Hinman under wraps was turned down.
In his June 2018 speech, Hinman, the former head of the Securities and Exchange Commission's corporation finance division, stated that Ethereum's native token, Ether (ETH), is not a security.
With the speech contradicting the SEC's motion in its case against Ripple, the SEC wanted to seal internal communications, texts, and expert reports post-Hinman's speech.
However, Judge Torres
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