As an observer with a background in law, I find Sarah Netburn’s handling of this case between Ripple and the SEC to be meticulous and fair. The scheduling order she has issued is a common practice in legal proceedings to keep both parties on track and ensure that deadlines are met. The fact that Judge Netburn has given the SEC until the end of April to respond to Ripple’s motion to strike their new expert materials shows her commitment to due process and giving all parties a fair chance to present their case.
Sarah Netburn, a US Magistrate Judge for the United States District Court for the Southern District of New York, has entered a scheduling order regarding Ripple‘s motion to strike new expert materials that the U.S. Securities and Exchange Commission has submitted in support of its motion for remedies and entry of final judgment.
I observe that the Securities and Exchange Commission (SEC) has been given until April 29th to submit their response to the motion at hand. Following this, Ripple will have a timeframe of three business days to respond with their rebuttal.
I’ve observed that according to U.Today’s report, Ripple has filed its opposition against the SEC’s motion for remedies in court. The company based in San Francisco is advocating for the denial of the SEC’s requests for disgorgement and prejudgment interest. Additionally, Ripple insists that the civil penalty imposed by the SEC should not surpass $10 million. In contrast, the SEC seeks fines and penalties amounting to approximately $2 billion.
The defendant has proposed striking the SEC’s recent evidence presented by Andrea Fox, an Assistant Chief Accountant in their Enforcement Division. Ripple contests that they were denied the chance to question Fox through a deposition, and reopening discovery to do so would bring about unnecessary costs and delays.
According to Ripple’s argument, the SEC failed to reveal Fox as an expert witness prior to the discovery phase’s conclusion, as required. Merely labeling her as a summary witness does not exempt the SEC from this responsibility. Consequently, Ripple proposes that the court should dismiss Fox’s declaration due to the late disclosure by the SEC.
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2024-04-26 09:27