Ripple submitted a fresh court document confirming his request to gather fresh evidence in his case long legal battle inconsistent with Securities and Exchange Commission (SEC). The crypto company filed its first motion on April 22, seeking to strike Andrea Fox, the commission’s accountant, as one of the plaintiff’s witnesses.
Ripple presents its latest demand
In letter addressed to Judge Sarah NetburnRipple argued that the SEC failed to show that Andrea Fox’s statement was “a summary of evidence rather than expert testimony or that it was in accordance with a timetable issued by the court.” Therefore, they requested that her testimony be deleted.
Ripple initially raised this claim in objection upon the SEC’s Request for Remedies and Promulgation of Final Judgment. They argued that the SEC erroneously relied on Fox’s testimony because she was never disclosed as a fact or expert and was not deposed during the initial discovery or supplementation discovery of remedies.
In response to Ripple’s initial SEC filing tried present Fox as an ad hoc witness, not an expert, as Ripple considered her testimony to be. The commission argued that “Ripple falsely claims that this statement constitutes expert opinion.” He further found that this was not the case, maintaining that Fox’s statement constituted “standard summary evidence admissible” under the law.
This is what made Ripple decide to make a comeback in its latest lawsuit. He argued that even if Fox was an ad hoc witness (and not, as was believed, an expert witness). The SEC didn’t do enough to prove it. The crypto company noted that the Commission also failed to explain why Fox’s statement highlighted her qualifications as an accountant when it did not attempt to present her as an expert witness.
Typically, the qualifications of a witness only matter if the witness in question was to provide expert testimony. Therefore, although the SEC claims that Fox is not, all indications are that she is an expert rather than an ad hoc witness.
Another argument about why Fox is an expert witness
In its response, the SEC said Fox was an ad hoc witness because her statement only applied “basic arithmetic to Ripple’s financial records.” However, Ripple he rejected this argument, noting that Fox’s actions suggested she was acting as an expert witness. They found out how the accountant used it Expertise analyze not only Ripple documentation, but also third-party evidence and expert reports.
Then, based on her analysis, she drew conclusions and conclusions about the documents reviewed. Ripple also claimed that it calculated the refund amount, upfront interest and discount amounts based on its analysis. Basically, the crypto company was implying the fact that the SEC determined it proposed a fine of almost $2 billion based on the Fox judgment.
Ripple also referred to how the SEC cited one of Fox’s filings in its remedial memorandum. According to crypto company“a layman could not “infer” what the entries “seem” to mean by doing basic math.”
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