SEC Requests to File One Large Motion of 120 Pages to Exclude 10 of Ripple’s Expert Testimony.
The SEC is requesting to file an omnibus motion that will limit or exclude 10 of Ripple’s expert testimony.
#XRPCommunity #SECGov v. #Ripple #XRP The SEC has sought permission to file one omnibus (big) motion to exclude or limit expert testimony, up to 120 pages long. Ripple Defendants do not object provided that they be allowed the same page limit for their response in opposition. pic.twitter.com/haa4Mr7XU1
— James K. Filan ????104k+ (beware of imposters) (@FilanLaw) July 6, 2022
The Securities and Exchange Commission has requested permission to file one large motion of up to 120 pages long, which will result in the limitation or exclusion of some experts’ testimony retained by Ripple in the ongoing lawsuit.
According to a recently filed letter, the SEC intends to limit or exclude the testimony of 10 experts initially retained by the Defendants, Ripple, Brad Garlinghouse, and Chris Larsen.
The agency noted that the 10 experts had already submitted numerous reports on different subject matters regarding the lawsuit. Notably, the reports submitted by these experts total more than 500 pages, with the exclusion of exhibits.
“To conserve judicial and SEC resources, the SEC proposes to file one omnibus motion, which combines what would otherwise be 10 separate motions against Defendants’ experts into one single brief,” the Securities and Exchange Commission noted.
The SEC asserted that the proposed 120-page limit motion is below the total number of combined pages that would have been filed to all the experts if the SEC complies with the order of a 15-page limit per expert.
Interestingly, the SEC stated that Ripple and Individual Defendants – Larsen and Garlinghouse – are not against the request to file the omnibus motion. However, Defendant’s request that it also be granted the same page limit for their response is in opposition to the SEC’s motion.
“For these reasons, the SEC requests that the court grant this motion. The SEC has submitted as Exhibit A hereto a proposed order reflecting this request,” the agency concluded.
Meanwhile, attorney James K. Filan, who shared the development on Twitter today, said the exhibit was not attached to the letter noted by the Securities and Exchange Commission.
But no Exhibit A (Proposed Order) attached.
— James K. Filan ????104k+ (beware of imposters) (@FilanLaw) July 6, 2022
@freddyriz while commenting on the matter said: “This is highly routine and ordinary in high-stakes litigation. Ripple will be moving to strike all of the SEC’s experts as well. Now you know why Ripple just staffed up with 2 more attorneys.”
Ripple and SEC Fight Over Amici’s Participation in Expert Challenge
The expert challenges is expected to commence very soon. Recall that both Ripple and the SEC have been in an argument over the testimony of one of the agency’s experts.
The issue pertains to a request filed by attorney John Deaton to represent over 67,000 XRP holders in the upcoming expert challenge involving one of SEC’s experts.
Interestingly, the SEC objected to the request filed by attorney Deaton, who was granted amici status earlier in the lawsuit. The SEC has requested that it file its opposition to the request under seal, claiming that if its opposition is made public, it would expose the expert in question to harassment and threats.
Ripple, on the other hand, requested that the SEC redact the portions of its opposition that may pose a threat to the expert, and publicize the other parts.
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