Attorney Jeremy Hogan is optimistic about the discovery process in the XRP lawsuit
Attorney Jeremy Hogan is optimistic about the discovery process in the XRP lawsuit.
According to a Twitter response to an XRP user who inquired if there was any prospect of an extension in any portion of the litigation, Attorney Jeremy Hogan hopes for no further delays in discovery.
“Not in discovery,” said the lawyer. The SEC might ask for more time for summary judgment briefings, but I don’t think that’s it,” hinting that the discovery process will be shorter than usual. In his opinion, the SEC may request more time for the summary judgment briefings, according to Jeremy Hogan.
U.S. Magistrate Judge Sarah Netburn approved a motion in January to extend the discovery deadline in the dispute between the Securities and Exchange Commission and Ripple, a San Francisco-based blockchain corporation, to February 28 to conduct additional depositions.
After being postponed four times, high hopes for the conclusion of expert discovery seem to be in place. The discovery process was delayed from October 12 to November 15 last year before being extended to Jan. 14 and 19, with a final shift to February 28.
In the latest updates shared by defense lawyer James K. Filan, one of Ripple’s defendants, Brad Garlinghouse, has filed a response to the SEC’s opposition to an earlier Ripple motion seeking the disclosure of the ”Estabrook notes ” taken during November 9, 2018, meeting between former SEC Commissioner Elad Roisman and the Ripple CEO.
Over the weekend, Ripple and the individual defendants filed their opposition to the SEC’s Motion for Partial Reconsideration and Clarification of Judge Netburn’s DPP Ruling.The SEC filed an opposition to compel turnover of notes taken by Matthew Estabrook.
Counsel to then SEC Commissioner Elad Roisman, to XRP lawsuit defendants.
However, the agency went ahead and submitted the letters to Judge Netburn for an on-camera review. Ripple had requested the Estabrook notes earlier in February and argued that these were not protected when the agency claimed the deliberative process privilege (DPP).
According to attorney Jeremy Hogan, the SEC made a big mistake in the Ripple case
Attorney and crypto legal expert Jeremy Hogan says the US Securities and Exchange Commission (SEC) made a huge mistake in its lawsuit involving Ripple Labs.
In update Video Jeremy Hogan recently demonstrated how the SEC filed a motion for the court to reconsider the unsealing of emails related to a speech by former SEC Chief Financial Officer William Hinman when he said Ethereum was not a stock.
In the SEC’s proposal, the regulator said:
The sec has created a real issue with this lawsuit. The win for xrp will be irreversible and devastating to other cryptos and currencies even with an act of Congress. It’s interesting if you remove all emotions and strictly apply the law… They created some really big issues you would think a mit graduate would have been smart enough to see all potential outcomes… Unless it was all by design.
“The speech — the speech itself and various manuscripts and comments by SEC employees in various SEC departments and offices discussing the agency’s approach to digital regulation of digital assets — shows that Director Hinman and other SEC employees the Speech used to provide guidance to the public on how Hinman’s department would apply state securities laws to the offering and sale of securities, digital assets, including ether.
In fact, SEC regulations provide that Director Hinman’s public statements can be relied upon to represent the views of Corp Fin, which he directs.
Hogan said that Hinman’s comments on Ethereum can be relied on as a guide and that the SEC makes the mistake of declaring Hinman’s comments to be only his personal opinions.
“In a litigation, you have to have your own strategy, your own argument on the case or the theory of the matter at issue, and you have to stick with it.”
With less than two weeks until the end of the discovery phase of the case, Hogan said adjusting the SEC’s arguments at the last minute could prove very risky.