SEC’s Response to Ripple’s Request to Dismiss Dr. Albert Metz Supplemental Expert Report.
After requesting a two-day extension, the Securities and Exchange Commission (SEC) has finally responded to Ripple’s motion to strike the supplemental expert rebuttal report from Dr. Albert Metz.
The SEC requested that the court deny Ripple’s request to strike the supplemental rebuttal report because the motion was only established to prevent Dr. Metz from giving his expert opinion about the lawsuit.
According to the SEC, the decision to preclude Dr. Metz’s opinion on the matter should be decided by Judge Analisa Torres, adding that Ripple’s motion to strike the rebuttal report disregards the procedure.
Notably, the Securities and Exchange Commission accused the blockchain company of trying to use its motion to solicit for unfair advantage in the litigation, where certain experts’ opinions will be imperative to the trier of fact.
Referencing Civil Procedure rules 26 and 37, the SEC stated that the request by Ripple to strike is not an appropriate sanction under the law.
Mixed Reaction Trail SEC’s Response
The SEC’s response has sparked mixed reactions from interested parties in the lawsuit, with some people believing that the securities regulator’s reply should not count.
Meanwhile, attorney Jeremy Hogan, who has been vocal about the lawsuit since it began, took an unfamiliar stand on the matter.
Attorney Hogan, said:
“Not having the SEC expert address something that was obviously coming from Ripple’s experts was a mistake. Now they are trying to fix it and …that’s not a good position to be in.”
Not having the SEC expert address something that was obviously coming from Ripple's experts was a mistake. Now they are trying to fix it and …that's not a good position to be in.
— Jeremy Hogan (@attorneyjeremy1) March 19, 2022
Recall that the court allowed each expert witness to submit a report and another rebuttal report. After submitting its rebuttal report, the SEC made a second one calling it a supplemental rebuttal report, and Ripple would not tolerate it, as the blockchain company moved to strike it.
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