Ripple vs SEC: There’s a Possibility of Ripple’s Defeat in the Ongoing XRP Legal Battle; Here’s the Reason
Ripples Legal is outperforming the SEC’s legal team! A week filled with intense negotiations and suspense has swept through the Ripple vs. SEC case, bringing it closer to a possible resolution. Experts in the legal field believe that Ripple’s SEC case is nearing its end.
Ripple has successfully challenged the evidence presented by SEC Enforcement Division financial expert Andrea Fox, sparking controversy. Attorneys Bill Morgan and Jeremy Hogan, who are both on the XRP team, believe that Ripple will face difficulties undermining Fox’s testimony. They have shared their predictions regarding the potential outcome of the case.
Will the SEC Come out on Top? Insight from Pro XRP Lawyers
Defense attorney James K. Filan shared Ripple’s brief response on social media, leading to discussions among legal experts. While the motion to strike may be rejected, attorney Bill Morgan suggests that the judge might consider Fox’s expert testimony as stated in her report. Ripple could also conduct a deposition of Fox. Similarly, attorney Jeremy Hogan has emphasized the SEC’s advantages and the potential results if Fox is recognized as an expert witness.
Ripple’s letter in further support of its motion to strike new expert materials, filed on April 22, 2024, and its reply to the SEC’s opposition, submitted on April 29, 2024, has garnered attention from the #XRPCommunity, #SECGov, #Ripple, and #XRP. James K. Filan shared the document and expressed his views on Twitter.
Critical Week for Ripple and the SEC
Ripple’s motion aims to strike the expert materials submitted by the SEC, including Andrea Fox’s declaration, which was included in the SEC’s opening brief related to remedies. The dispute revolves around whether Fox should be considered an expert witness or a summary witness. Ripple argues that she is an expert witness, while the SEC claims she is summarizing existing facts as a summary witness.
In its reply brief, Ripple maintains that Fox should be recognized as an expert witness and accuses the SEC of failing to address its arguments and legal precedents. However, legal experts like Bill Morgan and Jeremy Hogan are doubtful about Ripple’s chances of winning the motion. They suggest that even if the judge deems Fox’s testimony as expert evidence, Ripple may still be allowed to depose her.
The court’s decision on the motion is pending, creating uncertainty about the ultimate outcome. The cryptocurrency community eagerly awaits the SEC’s reply brief, due on May 6, before the court issues its decision on remedies. Ultimately, Ripple’s fate will depend on the SEC’s response and the court’s ruling.
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