The Securities and Exchange Commission (SEC) accepted Ripple’s recently submitted August 9 application in what appears to be a strategic move. The defendants’ legal team proposed three exceptions to their arguments by excluding expert testimony.
according to data Purchased from James Filan, the Ripple team wants to seal the identities of non-parties, the identities of certain Ripple employees, and the personal financial information of the Ripple employee. Ripple’s legal consensus believes it is important to exclude any information associated with third parties. The reason is that it may affect their relationship with Ripple in the future.
The Securities and Exchange Commission decided not to object to this request based solely on Dober’s suggestions. The Securities and Exchange Commission has also not agreed that the above categories of information must be properly stamped for summary judgment purposes.
At the same time, the Securities and Exchange Commission reserves the right to oppose proposals similar to summary judgment.
No demand, no attendance
The Securities and Exchange Commission recently saw a motion accepted by Judge Torres that would allow them to bolster their earlier motion with a 90-page response. The plaintiffs filed this petition on August 24 to dismiss the testimony of 10 Ripple experts in a blanket response.
Defense attorney James Phelan shared the SEC file on the social media platform accordingly.
he is chirp“The SEC has filed a request for a comprehensive response, up to 90 pages in length, to further support its movement to exclude testimony from the defendants’ expert witnesses.”
The Ripple team has no objection to this proposal and accepts 11 pages per response brief. However, Ripple is looking to rule out certification from 5 SEC experts that US regulators do not object to.
This comes after the recent crackdown by the Securities and Exchange Commission. The court ordered the Securities and Exchange Commission (SEC) to turn over all of Hinman’s letter materials because it shows relevant objections to the decision.
We will have to wait and see how Ripple reacts to the latest move as it ultimately decides the fate of the case.