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Ripple v. SEC: Big Date for Another Public Reveal Nears as Ripple Scores Minor Win

Wed, 12/21/2022 - 11:32
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Tomiwabold Olajide
New timeline for expert motions emerges in wake of defendant's minor win
Ripple v. SEC: Big Date for Another Public Reveal Nears as Ripple Scores Minor Win
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In their ongoing lawsuit, both Ripple and the SEC have submitted a joint motion for a time extension until Jan. 13, 2023, to file the Daubert motions and accompanying exhibits on the public docket with redactions consistent with the court's Dec. 19, 2022, sealing ruling.

According to this ruling, Ripple scored a minor win as the court granted its request to redact the documents submitted in connection with the Daubert motions. This aims to protect Ripple's confidential business interests and the legitimate privacy interests of third parties.

MoneyGram and "third party A's" request to redact documents submitted in connection with Daubert motions was also granted.

"Third party A" refers to the nonparty subpoenaed for documents and testimony in the lawsuit. MoneyGram seeks the redaction of the deposition transcript of one of its officers, while "third party A" requests the redaction of seven documents to which the defendants have consented.

Ripple v. SEC: Some Timelines May Arrive Sooner, Here's What to Know

The SEC had a minor loss as its motion was granted and denied in part. The court denied the SEC's request to redact the names of the consulting firms that assisted its expert witness and otherwise granted its requests to redact the documents and exhibits submitted in connection with the Daubert motions.

Patrick B. Doody, one of the SEC's expert witnesses, made his role in the case public when six XRP holders, who were granted amicus status in the case, sought to file a motion challenging his expert report. Patrick Doody had claimed to understand the factors that led XRP holders to purchase the asset.

SEC Wants Court to Revoke XRP Holders’ Amici Status

As predicted by James K. Filan, District Judge Torres might rule on the Daubert motions, a type of motion that seeks to exclude the presentation of an expert's testimony simultaneously with other pending issues in "one big ruling" on or before March 31, 2023.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.