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Ripple vs. SEC: Defendants' Attempt to Block Supplemental Expert Report Fails

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Tue, 19/04/2022 - 20:01
Ripple vs. SEC: Defendants' Attempt to Block Supplemental Expert Report Fails
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The U.S. Securities and Exchange Commission scored a minor win against blockchain company Ripple earlier today, with Magistrate Judge Sarah Netburn allowing it to file a supplemental expert report.

Expert discovery was originally supposed to end on Jan. 14, but that deadline has now been shifted several times due to several disputes. The discovery schedule issued by the court did not take supplemental reports into account.     

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As reported by U.Today, Ripple moved to strike a new rebuttal report by securities and finance expert Dr. Albert Metz last month. It described the report as "impermissible," arguing that the new version of the report didn't bring anything new to the table. Ripple claimed that the SEC wasn't supposed to have the final say in the discovery process.   

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The report in question is meant to show the "economic significance" of Ripple's public announcement with the regards to the performance of the XRP token. The discovery deadline has now been pushed to May 13 in order to re-depose Dr. Metz.  

In other news, the SEC recently informed that court that it was going to raise new privilege assertions in a last-ditch effort to avert the production of emails related to the infamous Ethereum speech of William Hinman, the former director of the SEC's Division of Corporate Finance.  

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