Ripple’s Latest Move Against the SEC
Ripple has submitted a new court document in support of its request to strike new evidence in its ongoing legal dispute against the Securities and Exchange Commission (SEC). The company originally filed this motion on April 22, seeking to eliminate Andrea Fox, an accountant at the Commission, as one of the claimant’s witnesses.
Ripple Presents Its Argument
In a letter addressed to Judge Sarah Netburn, Ripple argued that the SEC has not demonstrated that Andrea Fox’s declaration qualifies as expert testimony, or that it falls within the court’s scheduling order. Consequently, they have requested that her testimony be disregarded.
Ripple made this motion in response to the SEC’s request for remedies and a final judgment. They contended that relying on Fox’s testimony was inappropriate since she was not disclosed as a witness during the initial discovery or supplemental remedies discovery process.
The SEC’s Response
In response to Ripple’s motion, the SEC attempted to categorize Fox as a summary witness rather than an expert. They argued that Ripple was incorrect in labeling her testimony as expert evidence, stating that it constituted standard summary evidence permitted by the law.
Ripple disputed this characterization in its recent court filing, highlighting the SEC’s failure to provide sufficient evidence to support Fox’s classification as a summary witness. The company pointed out that the SEC had not clarified why Fox’s declaration referenced her qualifications as an accountant if she was not being presented as an expert witness.
Debating Fox’s Role
The SEC argued that Fox was a summary witness because she only applied basic arithmetic to Ripple’s financial records in her declaration. However, Ripple countered this claim by citing Fox’s use of specialized knowledge to analyze the company’s records, third-party evidence, and expert reports.
Ripple suggested that Fox’s analysis was instrumental in determining the proposed fine of nearly $2 billion, implying her role as an expert witness. Additionally, the company pointed out that the SEC had referenced one of Fox’s inferences in its remedies memorandum, suggesting her significant contribution to the case.
The Verdict
Ripple continues to contest the SEC’s reliance on Andrea Fox as a summary witness, emphasizing her qualifications and specialized knowledge in the case. The company’s latest court filing challenges the SEC’s assertion that Fox’s declaration constitutes only summary evidence, suggesting that her role may indeed be that of an expert witness.
Hot Take: Ripple’s Legal Battle Unveils Disputes Over Witness Testimony
Ripple’s legal clash with the SEC intensifies as the company challenges the Commission’s use of Andrea Fox as a witness. The dispute over Fox’s role highlights the intricacies of expert testimony in legal proceedings, adding another layer of complexity to the ongoing lawsuit. As both sides present their arguments, the outcome of this latest development could shape the trajectory of the Ripple-SEC legal battle.
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