SEC Seeks Court’s Permission To Exclude Ripple Expert Testimonies

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The U.S. Securities and Exchange Commission (SEC) has filed a request to submit one lengthy reply for excluding the Defendants’ Expert Witnesses. The watchdog is putting all its efforts to restrict Ripple’s 10 Testimonies.

SEC wants to file a lengthy reply

According to the letter, the SEC seeks to leave and submit one omnibus reply which will be up to 90 pages in length. It mentioned that the court granted the commission to file the motion to exclude the testimony up to 120 pages in length.

The SEC highlighted that the motive behind this motion is to exclude the testimony of ten experts retained by the defendants. It added that the court order does not specify the page limit for replies.

The letter mentioned that the motions and responses shall be limited to 15 pages. While the court’s individual practices in Civil cases hold a 15 page limit for filing replies. However, the SEC’s proposed 90 page limit.

The commission state that Ripple and the Defendants do not object to their request. Meanwhile, they request 11 pages for each reply brief in such further motions. The SEC does not want to object to the defendant’s request.

Is watchdog still not disclosing vital docs?

Attorney James Filan explained that the original request was to file the motion to exclude the testimony. However, this motion is to file a lengthy reply to the original request. This will let both parties to file one big document covering every aspect.

Earlier, Coingape reported that SEC is using the same old tactics to delay revealing the crucial Hinman’s speech related documents. However, the defendants objected to the commission’s opposition to Judge Netburn’s decisions.

Ripple asserted that the SEC’s opposition is likely that the court is not accepting their request to extract her findings. They also compared the watchdog’s proceeding with putting the toothpaste back in the tube. However, it highlighted that they are counting on self contradictory arguments.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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