Bloomberg Law
July 13, 2022, 12:17 AM

Ripple Labs Wins Access to SEC Documents in XRP Crypto Fight

Joel Rosenblatt
Joel Rosenblatt
Bloomberg News

Ripple Labs Inc. won access to Securities and Exchange Commission documents to defend against the agency’s suit accusing it of misleading investors about its XRP cryptocurrency.

The SEC argues Ripple co-founder Christian Larsen and Chief Executive Officer Bradley Garlinghouse were “reckless” in their claims XRP isn’t a regulated security. After privately reviewing internal SEC documents the two men are pursuing, U.S. District Judge Sarah Netburn in Manhattan on Tuesday rejected the agency’s argument that they’re protected by attorney-client privilege.

“The predominant purpose of the communications was not to provide legal advice to aid the SEC in conducting the public’s business,” ...