Crypto legal expert Jeremy Hogan thinks the Ripple versus U.S. Securities and Exchange Commission (SEC) case is finally entering its “endgame.”
Hogan is responding to news that attorney and XRP supporter John Deaton recently filed a letter requesting to represent 67,000 XRP holders.
The move is a direct response to the SEC wanting to bring in an expert to testify on what XRP holders thought when they purchased the sixth-largest crypto asset.
Hogan says the move could “make the difference in the case.”
“The judge granted XRP holders amicus status, but they still have to make a request to the judge before doing anything, and here in this motion, Deaton requests leave of court to file an amicus brief in a Daubert challenge relating to the expert opinion of a Mr. Doody.
Let’s look at page one…. ‘Amici respectfully requests leave to file an Amicus Brief regarding the opinions of Plaintiff’s expert, Patrick B. Doody. Daubert concerns related to Mr. Doody’s opinions represent the precise nature of the difficult issues envisioned by the court when it granted amici status…
‘Counsel for amici recently became aware of Mr. Doody’s report regarding the conduct of individual XRP holders such as amici.’”
Hogan notes the SEC wants an “expert” witness to give testimony about what XRP holders were thinking when they bought the crypto asset.
“Deaton represents 67,000 actual XRP holders and wants to present what they were actually thinking. So, of course, the SEC opposes it.
Deaton wants to file a brief ‘Daubert’ motion related to an expert hired by the SEC to discuss the motives of XRP purchasers. This means that Ripple is trying to strike the witness altogether because his opinion has no ‘reasonable scientific basis.’”
Hogan says his only concern with the motion is the timing.
“That’s because no actual motions to strike the expert witnesses have been filed yet. They aren’t due until August 30th. But attorney Deaton really had to try and file this motion now because if he waits until August 31st, he’ll be left with just a month and a half to file his motion, get court permission, draft and file his brief and that’s cutting it close time-wise.”
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