The final ruling in the Ripple lawsuit, which has caused significant harm to the price of XRP, is being held up by a decision from Magistrate Netburn regarding the exclusion of Andrea Fox’s declaration. The XRP community has been anxiously awaiting the resolution of this multi-year legal battle between Ripple and the SEC, but there is still no official end date in sight.
Ashley Prosper, a prominent member of the XRP community, highlighted the importance of Magistrate Netburn’s decision in determining when Judge Analisa Torres can issue her final verdict. The SEC recently filed its opposition brief to Ripple’s motion to seal certain documents, and Prosper believes that the only thing standing in the way of the judge’s final decision is a ruling on Ripple’s motion to exclude Andrea Fox’s testimony.
Ripple had requested that Magistrate Netburn exclude Fox’s declaration, which the SEC had submitted to support its demands for remedies. Ripple argued that the declaration should have been provided during the discovery phase so that they could respond to and challenge Fox’s claims. The SEC, on the other hand, claimed that Fox was simply summarizing existing facts and helping the judge understand Ripple’s financial records.
Prosper believes that the decision on whether Fox is considered an expert witness or a summary witness could have significant implications for the resolution of the lawsuit. He noted that Magistrate Netburn typically takes around 30 days to decide on small motions, so her ruling could come at any moment. However, if any of the parties involved decide to challenge her decision, it could further delay Judge Torres’ final verdict.
While Prosper hopes that the court will disregard Fox’s declaration if Magistrate Netburn deems her an expert witness, he does not believe that will be the case. This aligns with the opinions of other pro-XRP lawyers who speculate that even if Fox is considered an expert witness, her testimony will not be discarded but rather Ripple will be allowed to depose her.
Fox’s declaration is crucial to the final verdict and will play a significant role in determining the penalty against Ripple for its violation of securities laws. Therefore, Judge Torres is likely to wait for Magistrate Netburn’s decision on the exclusion of Fox’s testimony before issuing her final ruling.
It is important to note that this article is for informational purposes only and should not be taken as financial advice. The views expressed in this article are solely the opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions, and The Crypto Basic is not responsible for any financial losses incurred.