SEC accepts Ripple’s request: A genuine gesture or strategic move
The SEC has accepted Ripple’s recent request on August 9, which appears to be a strategic move. The defendants’ legal team filed three waivers against their motion to exclude expert testimony.
according to data The Ripple team sourced from James Filan and wanted to seal the identities of non-parties, the identities of certain Ripple employees, and the personal financial information of Ripple employees. Ripple’s legal consensus believes that it is important to exclude any information related to non-parties. The reason is that this could affect their future relationship with Ripple.
The SEC decided not to strictly object to this request for the sole purpose of Daubert’s motion. The SEC has also failed to acknowledge that the above categories of information should be properly sealed for summary judgment briefings.
At the same time, the SEC reserves the right to oppose similar requests for summary judgment.
no claim, no show
Recently, the SEC saw Judge Torres accept a motion allowing them to consolidate their earlier motion with this 90-page response. Plaintiffs filed the motion on Aug. 24 to exclude the testimony of 10 Ripple experts in the omnibus response.
Defense attorney James Phelan accordingly shared the SEC filing on social media platforms.
he tweet“The SEC has filed a request for a 90-page consolidated (large) response to further support its motion to exclude the defendants’ expert witness testimony.”
The Ripple team has no objection to the motion and accepts an 11-page summary of responses. However, Ripple is seeking to exclude the testimony of five SEC experts that U.S. regulators have no objection to.
This comes after a recent beating by the SEC. The SEC was ordered by the court to file all of Hinman’s speeches because they described relevant objections to the decision.
We’ll have to wait and see how Ripple reacts to the latest motion as it ultimately decides the fate of the case.