- Ripple challenges SEC’s last-minute expert testimony, alleging procedural violations.
- Ripple’s legal team accused the SEC of “sandbagging,” a practice prohibited by Federal Rule of Civil Procedure.
- Ripple urged the court to strike the Fox Declaration and any mentions of it in the SEC’s remedies motion.
Ripple has filed a motion to strike the new expert materials submitted by the U.S. Securities and Exchange Commission (SEC) in support of its motion for remedies and entry of final judgment. Prominent defense lawyer James Filan called attention to this latest SEC vs. Ripple drama in a recent post on X.
Notably, Ripple filed the motion with Judge Sarah Netburn of the U.S. Magistrate Court of the Southern District of New York. The crux of Ripple’s argument lies in the timing and nature of the SEC’s submissions.
Ripple contended that the SEC’s recent filings, featuring the declaration of Andrea Fox, an assistant chief accountant of the SEC, and accompanying exhibits, were untimely and failed to adhere to procedural rules mandating disclosure during discovery.
As a result, Ripple’s legal team accused the SEC of “sandbagging,” a practice prohibited by the Federal Rule of Civil Procedure. According to Ripple, the SEC’s delayed disclosure of expert witness testimony and analysis on Ripple’s accounts and XRP sales penalties to institutional investors violates the principles of fair litigation.
Central to Ripple’s objection is the assertion that the SEC portrayed Andrea Fox as a mere “summary witness” rather than an expert witness, downplaying the significance of her testimony. Ripple argued that such characterization belies the substantive nature of Fox’s contributions, which Ripple claims should have been disclosed during the discovery phase.
Based on the circumstances, Ripple urged the court to strike the Fox Declaration and any mentions of it in the SEC’s Remedies Motion.
Furthermore, during discussions between the parties concerning this motion, an agreement was reached to suggest that the SEC be granted five business days to submit a letter in opposition. Accordingly, Ripple will have three business days to respond.
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