Ripple vs SEC lawsuit: Plaintiff wants to protect the “expert” at all cost
Ripple continues to see new developments every week with the ongoing lawsuit between the SEC and the fintech company. Curiously, the Amici movement has become another SEC favorite. In fact, the SEC lawsuit against Ripple caused XRP holders to suffer losses for a long time.
Ripple v. SEC: Plaintiff wants to protect the ‘Expert’ at all cost regardless of…
Plaintiffs, on June 18, objected to Ripple Defendants’ Motion, highlighting ‘Exhibition’. An excerpt of expert deposition transcript- as a ‘judicial document.’ Likewise, reasons for objecting to Exhibit O regarding amici’s request to participate in the SEC expert challenge were provided.
The SEC has filed, under its seal, their proposed transactions in response to the Ripple Defendants’ response to the SEC’s objections. Again, it involves the amici movement to take part in the expert challenge. The SEC has publicly filed a letter explaining its proposed transactions as introduced by James Filan, a prominent attorney.
#XRPCommunity #SECGov v. #Ripple #XRP The SEC filed, under seal, its proposed redactions to the Ripple Defendants’ response to the SEC’s opposition to the amici motion to participate in the expert challenge. The SEC also publicly filed a letter explaining its proposed redactions. pic.twitter.com/w0OhPH7ysK
— James K. Filan 🇺🇸🇮🇪104k+ (beware of imposters) (@FilanLaw) June 23, 2022
This move comes on the heels of testimony from an expert SEC witness – Patrick B. Doody – who reported on what information ‘reasonable’ XRP holders relied on while buying the token. To protect the expert, the SEC asserted, “The proposed redactions to the Response are narrowly tailored to serve the “higher value” of protecting witness safety in light of the likelihood that past harassment and threats will continue in the absence of such steps.”
The SEC sought to seal ‘footnote 1 of the Response‘, which includes information about the substance of the Expert’s report. The remaining proposed redactions to the Response relate to information about the threats and harassment of the Expert outlined in the ‘SEC opposition bet’. This could be the main reason, the proposed deals are ‘tailored to serve that interest.’
Yes, the SEC aims to protect the respective professional from any potential damages. Furthermore, Jeremy Hogan, who questioned the SEC’s motives here said, “If only the SEC was this enthusiastic to protect retail XRP holders!”
Also, the current crypto correction only adds fuel to the fire. XRP fell to $0.36 after extreme liquidations. However, it is up more than 12% by press time, so shows the will to live.
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