- Ripple says SEC has failed to establish that Andrea Fox’s expert testimony is not summary evidence.
- Ripple’s request for redaction and sealing financial Documents spark further controversy
From its inception on December 2020, the legal dispute involving Ripple It has been an emotional rollercoaster to deal with the US Securities and Exchange Commission. Courtroom drama and a slew of legal disputes followed Ripple’s accusation by the SEC that it had raised over $1.3 billion by selling XRP in an unregistered securities offering.
Ripple V. SEC: A Clash Over Key Witnesses
When Judge Sarah Netburn A new schedule was signed that focused on remedies requested and entry. of Final judgment. Both parties submitted all the paperwork required to resolve the dispute.
Arguments dogged the procedure nevertheless, especially with reference to Andrea Fox’s evidence. Fox claimed that the opinion was an unsolicited one, but Ripple said it was a typical summation of evidence used for disgorgement calculation.
The SEC argued against Ripple’s request on April 29 and said Fox’s testimony was predicated on simple math applied to Ripple’s financial data. Ripple claimed that Fox had specialized knowledge, beyond basic mathematics. The SEC failed to disclose her until after the discovery process.
Addition Confrontation
Another issue arose when Ripple You may be asked to seal and redact some information. financial records connected to the SEC’s motion for judgment and remedies, following reports from Crypto News Flash. This information, according to the SEC’s position, should not remain secret as it is a judicial document essential for this case.
While Ripple contends that previous contracts are meaningless because of recent procedural changes in their XRP sales, the SEC feels that this information is essential to comprehending Ripple’s previous XRP sales.
Legal complexities or possible appeals can cause the lawsuit to still be resolved after trial. Jeremy Hogan, an American lawyer, predicted that a 100 million dollar settlement was feasible by this summer.
The SEC has been beaten in the legal battle by Ripple after three partial court victories last year. Each of these wins was followed by an increase in the price for XRP.
CoinMarketCap shows the current price of XRP at around $0.4997The Fallen 4.67% In the last 24 hours, 3.69% CNF previously. The CNF previous reported Stuart Alderoty (CLO at Ripple) criticizes the SEC’s use of public money in futile legal proceedings.
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Source: www.crypto-news-flash.com