Two pro-XRP attorneys speculate that Ripple will lose its movement to strike testimony supplied by Andrea Fox, an accountant with the SEC’s Enforcement Division.
Attorneys Invoice Morgan and Jeremy Hogan made this identified whereas reacting to Ripple’s reply transient to the SEC’s opposition to the movement to strike.
Movement to Strike Fox Declaration
For context, Ripple filed its reply transient yesterday to additional help its April 22 movement to strike skilled supplies submitted by the SEC. Notably, the SEC included Fox’s declaration in its remedies-related opening transient in March, aiming to strengthen its case for an injunction and punitive penalty.
The bone of competition about Ripple’s movement to strike is whether or not Fox is an skilled or abstract witness. Whereas Ripple claimed the accountant is an skilled witness, the SEC debunked this declare in an opposition final month, noting that she is a abstract witness.
Ripple argued that the SEC was supposed to supply Fox’s declaration and identification through the discovery part of cures to grant it the chance of deposing her.
Nonetheless, the SEC contends that Fox is a abstract witness who solely summarized current info to provide the decide a greater understanding of Ripple’s audited monetary data.
Ripple’s Reply Transient
Within the reply transient, Ripple insisted that Fox is an skilled witness. Constructing on this premise, the corporate famous that the SEC nonetheless didn’t dispute its argument that mandates the company to submit her report through the discovery part.
Moreover, Ripple contended that even when Fox is a abstract witness, the events’ settlement and court docket scheduling order require the SEC to disclose her identification earlier than the tip of remedies-related discovery.
Moreover, the corporate mentioned the SEC didn’t deal with the authorized precedents it raised to help its movement to strike.
Authorized Consultants Assume Ripple Will Lose
It bears mentioning that seasoned protection lawyer James Okay. Filan shared Ripple’s reply transient on X yesterday.
#XRPCommunity #SECGov v. #Ripple #XRP @Ripple has filed a letter in additional help of its April 22, 2024 movement to strike new skilled supplies, and in reply to the SEC’s April 29, 2024 opposition to that movement to strike. pic.twitter.com/vXW1C22Oso
— James Okay. Filan 🇺🇸🇮🇪 (@FilanLaw) Might 2, 2024
The transient stirred reactions amongst high authorized specialists, who predicted that Ripple would lose the case.
Lawyer Morgan famous that though Ripple might lose the movement, the decide would possibly agree that Fox gave some skilled proof in her report, thus permitting the corporate to depose her.
Equally, Lawyer Hogan speculated that the SEC would safe a win towards Ripple concerning the movement to strike. He emphasised that if the court docket finds Fox to be an skilled, it won’t strike her declaration however enable Ripple to depose her.
The court docket’s choice on the movement might come at any time, and the result stays unsure. Within the meantime, crypto group members predict the SEC to file its reply to Ripple’s opposition to its opening cures transient. The SEC reply transient is due on Might 6. Afterward, the court docket will problem its choice on cures.