SEC vs. Ripple: Reasons Defendant’s Motion Should Be Dismissed According to SEC

The United States Securities and Exchange Commission (SEC) has applied for a two-day extension to respond to Ripple’s motion for an additional expert rebuttal report from Dr. Albert Metz to remove. However, many within the crypto community saw this as a move to save more time or slow down the procedure.

‘Bad written response’

The second applied for that the court denies Ripple’s request to delete the supplemental rebuttal report. The regulators believed the motion was brought to prevent Dr. Metz would give his expert opinion on the lawsuit. The filing noted,

“Dr. Metz’s expert report is an analysis that determines specific announcements made by Ripple at the time of ICO that affect the price of XRP.

The SEC cited three main reasons why the defendant’s motion should be dismissed.

The SEC in the opposition has said Ripple’s expert opinion of Dr. Metz in this case is trying to rule out. Judge Torres should rule on this as the motion ignores proceedings.
The Commission alleged that Ripple is seeking an unfair advantage in this lawsuit. The agency claims that expert testimony will be crucial to the facts. The SEC stated that defendants could not show any real bias, as the report is not an appropriate sanction under the Fed. R. Civ. pp. 26 and 37.

Nevertheless, attorney James K. Filan believed the SEC’s response was poorly drafted

Well, the response sparked reactions from stakeholders in the lawsuit. For example, attorney Jeremy Hogan, a famous attorney, had an unknown position on this matter. Attorney Hogan said,

“It was a mistake to let the SEC expert discuss something that clearly came from Ripple’s experts. Now they are trying to fix it and … that is not a good position.”

What’s different this time?

XRP is up more than 4% on the market side in the last 24 hours. The #6 largest token was trade at press time $0.81.

Such moves can be a trigger to get close to the magic $1 given the past wins.

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