Judge Sarah Netburn has released a scheduling order that outlines the timeline for Ripple’s motion to strike out new expert materials from the SEC’s motion. Netburn, who was recently nominated as a district judge for the Southern District of New York by the Biden administration, is seen by the XRP community as giving Ripple an advantage in the legal battle.
The US District Court for the Southern District of New York has published a timeline for the Ripple vs. SEC case, specifically regarding Ripple’s motion to strike new expert materials from the regulator. Ripple has sought to strike the new expert materials presented by SEC expert witness Andrea Fox, who supported the SEC’s calculations and proposals for remedies. Ripple argues that the court should strike Fox as an expert witness based on the failure of the SEC to comply with the deadline and its failure to provide an explanation for the delay.
Ripple’s motion lists four reasons why the court should strike, emphasizing that the late filing of an expert report critical to the company’s case highlights the inexcusable nature of the delayed submission. If Fox’s expert witness account is allowed, Ripple would have to reopen proceedings to depose her on certain proposals, causing significant expenses and delays.
Judge Netburn has given the SEC until April 29th to file its response to Ripple’s motion. Ripple will then have three business days to respond to the SEC. The main point of contention between the two parties is the amount that Ripple should pay. The SEC has proposed a $2 billion penalty, while Ripple is advocating for a more lenient fine of $10 million.
XRP is currently trading at $0.5225, with a 1.3% gain in the past day.
