Ripple Lawsuit: S.E.C. Attempts To Restrict Expert Testimony
⚈The S.E.C. recently filed an omnibus motion to restrict the number of expert witnesses that Ripple may present to the court.
⚈Legal counsel for the agency filed a 120-page document to the court with no opposition from Ripple Labs‘ defense team—save one—they want the right to file a response just as lengthy.
⚈Currently, the S.E.C. is requesting that expert testimony provided by Ripple Labs be limited to just 10 individuals retained by the firm or its co-founders.
⚈A decision from the court regarding the motion is expected on July 12th, 2022.
⚈This legal skirmish is simply the latest contested battleground in the high-profile regulatory case which shows no sign of ending any time soon.
⚈My main question is this: if the S.E.C. has a strong case, why attempt to restrict expert testimony? Why attempt to leave out, or otherwise limit, critical information at every turn of this harrowing case?
U Today explains:
XRP-friendly attorney Fred Rispoli explains the implications of this: “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.”
Bein Crypto reminds readers:
The SEC filed a lawsuit against Ripple and its leadership in Dec 2020 accusing the company of selling unregistered securities in the guise of XRP to raise funds, in contravention of Section 5 of the Securities Act of 1933.
https://procoinnews.com/ripple-lawsuit-s-e-c-attempts-to-restrict-expert-testimony/