SNEAK PEEK
- The Securities and Exchange Commission (SEC) of the United States is taking every possible measure to censor the 10 Ripple Testimonies.
- It stated that the court had permitted the commission to request omitting testimony up to 120 pages long.
- The SEC highlighted that the goal of this request is to have the testimony of ten experts that the defendants hired excluded.
The U.S. Securities and Exchange Commission (SEC) has asked for one thorough rebuttal in favor of disqualifying the defendants’ expert witnesses. The watchdog is doing all in its power to restrict the 10 Ripple Testimonies.
According to the letter, the SEC intends to withdraw and submit a solitary, lengthy reply that could total up to 90 pages. It declared that the commission had been granted authority by the court to move to omit testimony that was up to 120 pages long.
#XRPCommunity #SECGov v. #Ripple #XRP The SEC has filed a request to file one omnibus (big) reply, up to 90 pages in length, in further support of its Motion to Exclude the Testimony of Defendants’ Expert Witnesses. pic.twitter.com/BBFa6mITSM
— James K. Filan 🇺🇸🇮🇪 110k (beware of imposters) (@FilanLaw) August 24, 2022
The SEC emphasized that the purpose of this request is to have ten experts that the defendants recruited have their testimony excluded. The court’s order did not include the page restriction for replies; it was an introduction.
It is interesting that the court earlier allowed the commission to submit a 120-page opening brief in support of the application to exclude the testimony of the Ripple experts.
The SEC argued that although the decision did not specify a page limit for replies, the order as well as the court’s specific civil case procedures enable a 15-page restriction for replies.
According to the SEC, if it had chosen to provide a 15-page reply for each expert, the omnibus reply it plans to submit would have been 60 pages long. The SEC also requests to file a 90-page omnibus reply, which is 30 pages less than the court gave the commission for its opening omnibus brief.
Ripple reportedly made no objections to the SEC’s request. To further support its motion to exclude the testimony of five SEC experts, the blockchain startup and its executives also request an 11-page limit for their reply brief.
The important records relating to Hinman’s remarks are being withheld by the SEC, according to a previous investigation. The defendants, however, took issue with the commission’s disagreement with Judge Netburn’s rulings.
According to Ripple, the SEC’s opposition makes it likely that the court would reject their request to have her findings extracted. Additionally, they contrasted the watchdog’s actions with re-tamping toothpaste. It did however draw attention to the fact that they rely on reasons that contradict one another.
