tl;dr
The SEC has filed a motion to oppose Ripple's attempt to strike the declaration of summary witness Adrea Fox. Bill Morgan criticizes the declaration, stating it is not expert evidence and questions the SEC's argument on the question of pecuniary harm, likening it to customers complaining about makin...
The U.S. Securities and Exchange Commission (SEC) has filed a motion to oppose Ripple's attempt to strike the declaration of summary witness Adrea Fox. The SEC claims that Ripple incorrectly characterizes the declaration as undisclosed expert testimony.
Renowned crypto lawyer Bill Morgan critiques the declaration, arguing that it does not qualify as expert evidence. He also questions the SEC's argument regarding pecuniary harm, likening it to customers complaining about making less profit than others.
Despite the SEC's filing aiming to present calculations summarizing Ripple's financial and sales records, as well as prejudgment interest accrued on Ripple's gains, Morgan finds it difficult to support the SEC's argument on pecuniary harm.
In response to the SEC's filing, Morgan highlights the SEC's alleged negligence over a previous matter involving Sam Bankman-Fried and FTX, suggesting a potential connection to the ongoing case with Ripple.
Overall, the opposition by the SEC and the critique by Bill Morgan set the stage for a contentious legal battle with far-reaching implications.
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