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- Bill Morgan, thinks Ripple will lose its “Motion to Strike” filing in the ongoing lawsuit against the SEC.
- Morgan believes the Judge would accept Adrea Fox’s evidence and allow Ripple to depose her.
- Ripple filed a letter supporting its April 22, 2024 motion to strike new expert materials.
Foremost crypto lawyer Bill Morgan thinks Ripple will lose its “Motion to Strike” filing in the ongoing lawsuit against the U.S. Securities and Exchange Commission (SEC). Morgan highlighted this in a recent post on X, noting that he believes the Judge will accept the SEC’s summary witness Andrea Fox’s evidence as an expert and permit Ripple to depose her.
I think Ripple will lose the motion but the judge will accept Fox gave some expert evidence and permit Ripple to depose her. Then we can see what SEC says on 6 May in its reply brief on remedies and then await a decision on remedies. https://t.co/Bj1IhxK8e1— bill morgan (@Belisarius2020) May 2, 2024
According to Morgan, following the series of events, the public can wait to see what the SEC would say on May 6 in its reply brief on remedies and await the Court’s remedies decision. Morgan’s post followed reports that Ripple had filed a letter supporting its April 22 motion to strike new expert materials. The letter also serves as a reply to the SEC’s April 29 opposition to Ripple’s earlier motion to strike.
In the referenced letter, Ripple highlighted that the SEC failed to show that Fox is summary evidence rather than expert testimony. The fintech firm also argued that the witness’s testimony was not timely under the Court’s scheduling order.
In further explanation, Ripple noted that the SEC does not dispute that if Fox is an expert, it had to serve a report from her during remedies discovery. The blockchain firm also highlighted that the parties’ agreement and the Court’s scheduling order required the SEC to disclose Fox before the close of discovery, citing a joint letter by the parties.
Ripple is in a prolonged litigation with the SEC over its XRP sales over the years. The case has directly impacted XRP’s price, following unstable sentiments among the XRP community. On Thursday, the top altcoin surged about 4% in a surprise move as the community anticipated Ripple’s latest filing.
XRP traded for $0.51873 at the time of writing, according to data from TradingView, with the crypto market showing signs of a momentum loss going into the weekend.
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