The SEC accepts Ripple’s request: a genuine gesture or a strategic move
The SEC accepted a recent Ripple request made on August 9 in what appears to be a strategic move. The defendants’ legal team offered three exemptions in their opposition to their motions to exclude expert testimony.
According Data obtained from James Filan, the Ripple team wishes to seal the identities of non-parties, the identities of certain Ripple employees, and the personal financial information of a Ripple employee. Ripple’s Legal Consensus believes it is important to exclude any information that binds non-parties. The reason is that it might affect their relationship with Ripple in the future.
The SEC has decided not to object to this request strictly for the purposes of the Daubert petitions only. The SEC has also not conceded that the above categories of information should be properly sealed for a summary statement of judgment.
At the same time, the SEC reserves the right to object to similar requests for summary judgment.
No claim, no show
Recently, the SEC saw a motion granted by Judge Torres that allows them to cement his previous motion with this 90-page response. Plaintiffs filed this motion on August 24 to exclude testimony from 10 Ripple experts in an omnibus response.
Defense attorney James Filan shared the SEC filing on the social media platform accordingly.
He tweeted“The SEC has filed a request to file a (large) omnibus response, not to exceed 90 pages in length, in support of its motion to exclude the testimony of defendants’ expert witnesses.”
The Ripple team does not oppose this motion and accepts 11 pages for each response brief. However, Ripple is seeking to exclude testimony from 5 of the SEC’s experts that US regulators do not object to.
This comes after the recent beating from the SEC. The SEC was ordered by the court to submit all documents from Hinman’s speech because they outline relevant objections to the decision.
We will have to wait and see how Ripple reacts to the latest motion as it will ultimately decide the fate of the matter.
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