Ripple vs SEC: Court Gives Judgment on Motion to Rule Out Expert Testimony

The legal battle between the US Securities and Exchange Commission (SEC) and Ripple has taken on new dimensions following a recent court judgment. The parties’ motions to exclude expert testimony from consideration at summary judgment and trial have finally been decided by the court.

According to filed documents, Judge Analisa Torres issued a decision in which she granted some motions and denied others. The final judgment gives neither the SEC nor Ripple the upper hand. Nonetheless, one of the main outcomes of the decision was to bar Expert No. 1, Patrick Doody, from giving testimony regarding the perspectives of a reasonable XRP buyer.

Notably, the SEC had previously recruited Doody to assess the expectations of token buyers, but the judge has now accepted Ripple’s move to exclude his testimony. The absence of Doody’s testimony has implications for the SEC’s case, as the agency must demonstrate that investors had a reasonable expectation of profit from Ripple’s efforts.

Industry Participants Voice their Opinion

Many industry professionals have commented on the most recent decision. Seward & Kissel’s attorney, Scott Chamberlain stated on Twitter that the Judge’s decision is completely impartial.  He continued by saying that neither the SEC nor Ripple got what they wanted because neither party had strong justifications.

On the other hand, Jeremy Hogan, an attorney who has been keeping a close eye on the Ripple case stated that the judgment seems weak. Additionally, he claims the judgment has left the SEC in a difficult position to look for a replacement to provide clarity for the case.

Meanwhile, John Deaton had earlier predicted that the legal feud between SEC and Ripple will get a court ruling by a judge as a way of settlement.

Nevertheless, Ripple’s CEO, Brad Garlinghouse said he is optimistic that the XRP lawsuit will be resolved before the end of Q1. He went on to say that the outcome of the case will have far-reaching consequences for the entire crypto ecosystem.