Wednesday, MoneyGram International Inc., a cross-border payments company, asked the U.S. District Court for the Southern District of New York to seal sections of the summary judgement documents in Ripple Labs’ continuing litigation against the U.S. Securities and Exchange Commission (SEC).
By sealing some of its documents for the summary judgement — a sort of judgement often rendered based on statements and evidence without a full trial – MoneyGram wants to preserve corporate information and employee names.
In September, both the SEC and Ripple filed a motion for summary judgement in the continuing lawsuit.
The SEC filed a complaint against Ripple and its officials in December 2020, stating that the sale of XRP constituted an unregistered issue of securities worth over US$1.38 billion.
MoneyGram ceased trading on Ripple’s platform in February 2021 due to lawsuit uncertainty, severing a connection that was responsible for several billion dollars in on-demand liquidity transactions.
A federal court allowed a joint request last month to extend the time for all parties to file their Daubert Motions, which exclude some expert testimony and accompanying documents, until January 13.
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