Lawyers Announce Possible Verdict in XRP Expert Case
ripple and SEC News: The US Securities and Exchange Commission (SEC) opposed Ripple Labs’ request to rescind its statement. Andrea Fox (Fox Declaration) and we support exhibitions. SEC, Fox Declaration a summary reportThis is not an expert report on the XRP institutional sales dispute.
The SEC also noted that the Fox Declaration summary evidence allowed similar to this according to the law Ferrante Declaration This was authorized by Judge Torres and there is no violation of that. federal rules of civil procedure.
Lawyers on Expert Witness Motion in Ripple and SEC Case
Pro-XRP lawyer explains SEC opposition to Ripple’s motion Bill Morgan The SEC said it argued that the Fox Declaration was a summary, not expert evidence, and did not object to Ripple’s summary of financial records. In addition, the SEC alleges that Fox did not express an opinion and merely stated what his attorney told him about whether some institutional buyers suffered financial losses while others received larger discounts.
Regardless of the outcome, Morgan believes the SEC’s argument for material harm suffered by some institutional buyers is weak enough to warrant harm. “I mean, imagine complaining that you made a profit on a contract with Ripple but you didn’t make as much profit as someone else,” he added.
Fred Rispoli He thought Ripple would win this exploratory motion, but still questions why Ripple waited so long when it could have filed the motion to move forward at the March briefing. He added that both Ripple and the SEC have case law regarding summary witnesses. Rispoli believes Judge Netburn may allow the Fox statement if Ripple does not request the deposition.
Former SEC securities attorney Marc Fagel He thinks the SEC has a stronger argument and says Ripple’s move “was more wrong than I initially thought.” He believes the court will award much less than $2 billion in restitution, but has not commented on whether a total fine of $10 million is justified.
Fagel predicts that in the coming months, both parties in the Ripple Vs SEC case will appeal the SEC’s XRP programmatic sales and Ripple’s XRP institutional sales decision. The dispute will move to the Second Circuit next year.
former SEC lawyer James Farrell He said it was usual practice for a non-lawyer to prepare summary schedules to avoid privilege issues if other parties (in this case, Ripple) testified.
“It is a credibility killer that Ripple unsuccessfully presented the same motion before Judge Torres in the summary judgment brief, but failed to bring it to Judge Netburn’s attention here,” he added.
Also Read: Bitcoin Miners Are Pouring Huge Sums Into Spot Exchanges, Will BTC Price Pressure Continue?
XRP Price Rising Slightly
XRP price has increased by more than 1% in the last 24 hours and the price is currently trading above $0.51. The 24-hour low and high are $0.500 and $0.519 respectively. Additionally, the 15% increase in trading volume in the last 24 hours shows that investors’ interest has increased.
The derivatives market has been registering large fluctuations in the last 24 hours due to the Fed’s interest rate decision on May 1. XRP futures open interest remains above 1 billion XRP, but traders are taking profits again following the recent recovery in open interest.
Also Read: Hong Kong Bitcoin ETFs Offer These Advantages Over US ETFs
✓ Share:
Varinder has 10 years of experience in the Fintech industry and has been dedicated to blockchain, crypto and Web3 development for over 5 years. A tech enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles, and articles. Varinder believes in the great potential of future innovative technologies with parofix Media. He currently covers the latest updates and developments in the crypto industry.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
#Lawyers #Announce #Verdict #XRP #Expert #Case
