Ripple vs SEC: SEC Wants to File an Omnibus Reply to Ripple’s Motion

Ripple vs SEC: SEC Wants to File an Omnibus Reply to Ripple’s Motion

ripple VS SEC

The post Ripple vs SEC: SEC Wants to File an Omnibus Reply to Ripple’s Motion appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

The SEC has requested to file one omnibus (large) reply, up to 90 pages in length, in additional support of its Motion to exclude or limit the testimony of ten experts recruited by Ripple defendants, according to recent developments supplied by James K. Filan in the continuing Ripple-SEC dispute.

The SEC attorney wrote: “Plaintiff respectfully seeks leave to file one omnibus reply, in further support of its omnibus motion to exclude the testimony of defendant’s expert witnesses, that is up to 90 pages. The court previously granted the SEC’s request to file an opening brief in support of its motion of up to 120 pages in length.” The letter further reads, “Although the order does not expressly specify a page limit for replies, it provides that motions and responses shall be limited to 15 pages.”

It continued, “the SEC’s proposed 90-page limit for an omnibus reply is 60 pages shorter than it otherwise would be at 15 pages per expert, 30 pages shorter than the page limit the court granted for the SEC’s opening omnibus brief, and 26 pages shorter than the defendants omnibus brief in opposition to the motion.”

It had requested on Wednesday that Judge Analisa Torres accept a reply, up to 90 pages long, in order to provide more evidence in support of its July move to exclude the testimony of Ripple’s ten expert witnesses. The motion was filed after the judge issued an order on April 28 limiting such motions and responses to 15 pages per expert witness.

The SEC filed a complaint against Ripple in December 2020, claiming that the company sold over US$1.38 billion worth of XRP, the native coin of the XRP Ledger developed by Ripple Labs, in an unregistered securities offering. Additionally listed as co-defendants by the SEC for allegedly aiding and abetting Ripple’s crimes were the CEO Brad Garlinghouse and executive chairman Chris Larsen.

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