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SEC Seeks Expert Witness Protection in Ripple Case

SEC Seeks Expert Witness Protection in Ripple Case

  • The SEC has filed its request to seal its response to the amici petition.
  • They claim it is to prevent further threats and harassment of the SEC expert.
  • The SEC expert witness faced criticism for his contribution to the case.

Earlier in the day, defense attorney James K. Filan tweeted that the SEC had filed a request to seal its response to the amici motion to participate in the Daubert challenge.

The SEC says that while some information it seeks to seal has already been made public by Movants attorney John Deaton, the SEC is seeking to seal that and other documents to avoid further threats and harassment of their expert .

The agency further states that expert witnesses understand that their opinions may be challenged by the opposing party and can even expect public challenges to their opinions in high-profile cases. “But no expert witness should expect to be subjected to a campaign of humiliation, harassment or threats simply by agreeing to act as an expert witness.”

For context, on May 22, attorney John E Deaton filed a motion letter asking the judge in the SEC v. case to let him draft a brief on behalf of the 67,300 XRP holders who were injured. by the trial.

The move came following testimony from an SEC expert witness who reported on what information “reasonable” XRP holders relied on when they purchased the token. Deaton responded to this by saying he bet that this witness testified without interviewing a single XRP holder.

In related news, Ripple’s General Counsel Stu Alderoty criticized the SEC for trying to “bully, bulldoze and bankrupt” crypto innovation in the US in the name of expanding its own turf. regulatory.

For the uninitiated, the SEC sued Ripple Labs in 2020 for issuing and selling unlicensed securities – XRP tokens – to the public. The crypto world has been following the SEC lawsuit against Ripple ever since.

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