Ripple Accuses SEC Of Adopting An Extreme Approach On Expert Reports
The U.S. Securities and Exchange Commission has been charged by the defendants in the Ripple case for adopting a “extreme approach” on expert reports. They claim that the plaintiff is attempting to silence any “substantive criticism” in a letter they just sent to Judge Analisa Torres.
Attorney John Deaton of the Deaton Law Firm sent a motion letter to the judge in late May asking for permission to submit a brief on behalf of thousands of XRP holders.
The action was taken shortly after Patrick B. Doody, the SEC’s expert witness, finished writing reports on the factors that led XRP holders to buy the contentious coin.
Deaton has stated that he intends to submit a Daubert motion to prevent the use of unqualified evidence.
The request was “big,” according to Hogan & Hogan attorney Jeremy Hogan, since removing the expert would make it more harder to establish the case.
On June 9, the court dismissed the SEC’s effort to have its letter of opposition to the request from an amicus curiae to join the Daubert challenge sealed, reasoning that the agency was attempting to seal more information than was required. To protect the expert witness from “further threats” and “harassment,” the SEC filed its suggested redactions on June 15.
“But no expert witness should expect to be subjected to a campaign of humiliation, harassment, or threats simply by agreeing to act as an expert witness,” the SEC argued.
The government, according to the defendants, is attempting to “suppress public criticism of its experts’ opinions,” they argue.
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