SEC stated that Ripple defendants have agreed to “omnibus” or “big” motion
According to recent updates shared by defense attorney James K. Filan, the SEC has sought permission to file a motion to exclude or limit the testimony of 10 experts who were retained by Ripple and/or its defendants, Chris Larsen, and Brad Garlinghouse.
The SEC intends to file motions to exclude or limit the testimony of 10 experts who were retained by Ripple Labs and/or Christian A. Larsen and Bradley Garlinghouse.
— James K. Filan 🇺🇸🇮🇪104k+ (beware of imposters) (@FilanLaw) July 6, 2022
Ripple Lawsuit: SEC Files Motion to “Reduce” Ripple’s Expert Testimony
The SEC stated that Ripple’s defendants agreed to an “omnibus” or “large” motion, not to exceed 120 pages, provided that they were provided with the same page limit for their response. The SEC did not object. “Those experts issued reports, including initial and/or rebuttal reports regarding numerous subject matters concerning this case, which total over 500 pages, excluding exhibits. To conserve judicial and SEC resources, the SEC proposes to file one omnibus motion to which combines what would otherwise be 10 separate motions against Defendants’ experts into one single brief,” the SEC stated in its brief.
XRP-friendly lawyer, Fred Rispoli, explains what this means: “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.”
As previously reported, Ripple has beefed up its legal team by adding two highly skilled Kellogg Hansen attorneys. Two recently hired attorneys, Kylie Chiseul Kim and Clayton J. Masterman will defend fintech firm Ripple in a lengthy legal battle with the US Securities and Exchange Commission (SEC).
Thx for having me, Ripple Drop.💧We talked all things XLS-20 and NFT use cases. As many of you know, #XRPLedger validators are currently evaluating and voting on XLS-20 – you can check out the progress here: https://t.co/LTCwdy0eLp https://t.co/rfcC95XknF
— Monica Long (@MonicaLongSF) July 6, 2022
Ripple CEO, Monica Long, talks about the big picture of NFT in the latest release of Ripple Drop. The Ripple CEO mentioned the expectation for NFT, the proposed XLS-20, which unlocks limitless potential for creators on XRPL and then sustainability, via NFT. Monica Long noted that the XLS-20 standard proposed by Ripple, which is currently being approved by XRPL validators, makes NFT generation on XRPL very compact and efficient Xange.com, a stock exchange in partnership with the United Nations has also announced that it is in the process of building a carbon credit market on XRPL.
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