Court Denies Ripple’s This Motion; Now SEC Wants To Exclude 10 Testimony
In order to strengthen its legal team in the crucial lawsuit against SEC, Ripple filed a motion to include two newly hired lawyers. However, the court has denied the defendant’s request for admission.
Court rejects admission of 2 new Ripple lawyers
Attorney James Filan took to Twitter to inform that Motions for Admission was denied over the failure to comply with the local rules. He mentioned that the affidavits were not notarized. Meanwhile, Filan later highlighted that the amended Motions for Admission Pro Hac Vice have now been filed with the notarized affidavits.
The new advocates joining the Ripple team are from Kellogg Hansen. This is termed as a huge move by the defendants as the long running lawsuit is now moving towards the summary judgment process.
Attorney Jeremy Hogan highlighted that the new addition will power the team to do some extra research before getting into the crucial proceedings. However, he also mentioned that a major ruling on the Hinman emails will be coming by this week.
SEC files omnibus motion
Meanwhile, the commission has filed a letter seeking to leave to file one omnibus motion to exclude or limit expert testimony. It added that the Defendants do not object to this motion. Ripple will also be allowed to file an opposition within the same page limit. The SEC has also agreed to this request.
The letter mentions that the SEC intends to exclude the testimony of 10 experts. These experts were retained by Ripple Labs and individual Defendants in the case. Reports issues by the experts include initial and rebuttal reports regarding subject matters concerning this case.
In order to conserve judicial and SEC resources, the authority proposed to file the omnibus motion.
On the market side, the XRP token prices have registered a jump of just 5% in the last 7 days. It is trading at an average price of $0.330, at the press time.
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