Plaintiff Security And Exchange Commission To File A Big Motion To Limit Or Exclude 10 Expert Testimony To Conserve Judicial And SEC Resources
According to the copy of a request posted on James K. Filan’s Twitter page, the SEC is seeking leave to file a big motion that will limit or exclude 10 testimony of the Ripple’s expert.
According to the court order on April 28th, the Plaintiff Security and Exchange Commission seek to leave to file one big motion of 120 pages long, to conserve the Judicial and SEC resources.
As stated in the letter filed by SEC, they want to abridge the testimony of 10 experts previously retained by the defendant, Ripple, Bradley Garlinghouse (the current CEO of Ripple), and the former CEO Chris Larsen.
Good to know that Ripple- Garlinghouse, and Larsen do not object to this request to file the big motion. Howbeit, Defendant’s request that it also be granted the same page limit for their response is in opposition to the SEC’s motion.
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.
“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.
The Attorney, James k. Filan also added to the letter, that there was no exhibit attached to the letter.
And some other persons like @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.”
More comments to the tweet revealed that the people are tired of SEC action and want something better.
Ripple And SEC To Be Resolved By 2023
A couple of months ago, Stuart Alderoty, general counsel at Ripple, has recently explained why the resolution of the SEC’s lawsuit against Ripple may not play out in 2022 as expected.
In a series of tweets on April 22nd, Alderoty thanked all those who have been watching as things unfold and supporting the course of Ripple and XRP in the ongoing case.
In the same thread of tweets, Alderoty said it’s getting clearer that the lawsuit would extend into 2023, contrary to the expectation of the XRP community members. A lawsuit that was filed in December 2020 will now possibly extend into its 3rd year before a resolution can be achieved.
Ripple’s general counsel wrote, “It now looks like a resolution will come in 2023 – and each day that passes is hurting US citizens who were essentially the victims of a rug pull by the SEC. $15B in XRP market cap was destroyed the day the suit was filed, hurting the very people the SEC purports to protect.”
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