The legal battle Ripple is having with the U.S. Securities and Exchange Commission (SEC) has, therefore, aroused the interest of legal experts who predict the case’s ending. The recent controversy revolves around Ripple’s action to strike out the testimony given by Andrea Fox, a financial expert from the SEC’s Enforcement Division. Attorneys Bill Morgan and Jeremy Hogan, both known to be on team XRP, also both stated that Ripple will certainly face an uphill battle in its attempt to undermine Fox’s testimony.
Ripple questions SEC witness classification
In response to the SEC’s opposition to its motion to strike on April 22, Ripple filed a reply brief, which aimed to demonstrate the SEC’s illogicalness further. Central to Ripple’s motion is the classification of Andrea Fox‘s role: whether she should be an expert witness or a summary witness. Fox argues that Ripple should have informed the SEC about her status as an expert witness during discovery so that a deposition could be scheduled.
On the contrary, however, the SEC claims that Fox was only ‘an opinion witness’ who just gave an overview of the known facts, especially those concerning Ripple’s audited financial documents. The issue as to whether or not Fox is considered an expert witness is the fundamental point of the argument, with Ripple arguing that he is. Furthermore, Ripple holds the position that if Fox is considered a summary witness, at least the SEC must have disclosed her identity as per the parties’ agreement and court scheduling order.
SEC holds edge in Ripple court battle
Known defense attorney James K. Filan posted Ripple’s brief reply on his social media, which caused legal experts to provide perspectives on how they see the case heading. Attorney Morgan Bill admitted the possibility of losing the motion to strike and said, however, that the judge could eventually consider the expert evidence as included in Fox’s report. As a result, Ripple could depose Fox. Likewise, Attorney Jeremy Hogan focused on the SEC’s advantages in its argument; he pointed out the possible outcomes if indeed credited for being an expert witness.
The court has yet to decide with regard to the motion to strike, which remains uncertain, and legal experts are kept alert to any new developments. On one side, Ripple attempts to substantiate its case. On the other hand, the SEC’s rebuttal and the court’s decision will ultimately determine the fate of Ripple.
From Zero to Web3 Pro: Your 90-Day Career Launch Plan
