In re Ripple Labs Inc. Litigation

Opinion

1 2 3 4 UNITED STATES DISTRICT COURT 5 NORTHERN DISTRICT OF CALIFORNIA

7 VLADI ZAKINOV, et al., Case No. 18-cv-06753-PJH 8 Plaintiffs,

9 v. ORDER RE MOTION FOR LEAVE TO SEEK RECONSIDERATION OF 10 RIPPLE LABS, INC., et al., SEALING ORDER 11 Defendants. Re: Dkt. No. 270 12

13 14 Defendants in the above-captioned case have filed a motion for leave to file a 15 motion for reconsideration of the court’s August 15, 2023 order regarding the parties’ 16 motions to seal. See Dkt. 270. Defendants seek reconsideration of only the portion of 17 the order pertaining to exhibit 13, defendants’ non-public audited financial statements for 18 the years 2018 and 2019. 19 Defendants argue that, after the time that the sealing motions were filed, the 20 Southern District of New York court presiding over the case brought by the SEC against 21 Ripple granted a request to seal the same document. See id. at 4. Defendants also cite 22 cases from courts within the Ninth Circuit sealing similar documents. See, e.g., Brown v. 23 Brown, 2013 WL 12400041 (N.D. Cal. Dec. 13, 2013). 24 Defendants point out that plaintiff did not oppose the motion to seal this exhibit, 25 and defendants also represent that they have conferred with plaintiff and that he does not 26 intend to take a position on the motion for reconsideration. See Dkt. 270 at 4, n.1. 27 After reviewing the arguments and the document itself, the court rules that, for the 1 the court will allow exhibit 13 to be sealed. Accordingly, defendants’ motion for leave to 2 seek reconsideration is GRANTED, and based on the representation that plaintiff does 3 not intend to take a position on the motion, the court construes the motion as a motion for 4 reconsideration and GRANTS reconsideration of the portion of the sealing order 5 pertaining to exhibit 13. However, for purposes of summary judgment and trial, it is 6 unlikely that the entirety of the narrative sections of the financial statements will meet the 7 “compelling needs” standard, and will instead likely be admitted only with appropriate 8 redactions. 9 IT IS SO ORDERED. 10 Dated: August 30, 2023 11 /s/ Phyllis J. Hamilton PHYLLIS J. HAMILTON 12 United States District Judge 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27