SEC files to take out Ripple’s whole expert testimony in one mega take

Rick Steves

Defendants do not object to the motion provided that they be allowed the same page limit for their response in opposition to the motion. 

The Securities and Exchange Commission has filed a letter seeking leave to file one omnibus motion to exclude or limit expert testimony, and that is up to 120 pages in length.

The plaintiff wants to file the motion in order to exclude or limit the testimony to ten (10) experts who were retained by Ripple, Chris Garlinghouse, and Chris Larsen.

Read more on Ripple here

SEC proposes to file one omnibus motion

“Those experts issued reports, including initial and/or rebuttal reports regarding numerous subject matters concerning this case, and which total over 500 pages, excluding exhibits. To conserve judicial and SEC resources, the SEC proposes to file one omnibus motion to which combines what would otherwise be 10 separate motions against Defendants’ experts into one single brief”, wrote SEC attorney Pascale Guerrier.

“The proposed 120-page limit is less than the total number of combined pages under the order’s 15-page limit per expert and is sufficient to adequately inform the court of the applicable facts and law in support of the SEC’s positions.”

According to the letter, defendants do not object to the motion provided that they be allowed the same page limit for their response in opposition to the motion.

Read more on Ripple here

Court expected to rule on Hinman documents this week

As both parties seem to be moving on to motions on expert testimony, which are due next week, the court may be planning to issue its ruling on the Hinman documents this week.

“I think Judge Netburn will rule on the Hinman emails this week mainly because motions to strike expert witnesses are due next week Tuesday”, said attorney Jeremy Hogan.

The upcoming ruling is expected to be the most important one in the SEC v. Ripple lawsuit because of the consequences it would bring for the outcome of the case, the future of both Ripple and the SEC, as well as the future of XRP and probably the overall cryptocurrency ecosystem in the United States.

The expectation is that, like in the previous ruling, the court’s next decision will include “a bulletproof section” that prevents the SEC from delaying the issue further via an appeal to the 2nd Circuit.

Besides the lower probability of further delays, the upcoming order may trigger a settlement between both parties sooner rather than later. This is because many suspect the SEC will not produce its internal files, even if it costs it the whole case.

Read more on Ripple here

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