On Friday (May 3), US attorney Jeremy Hogan shared his views on Ripple’s Motion to Strike-related reply brief, saying,
“The hardest thing to do on CT is say that you think the SEC will win a motion. But HERE GOES: I think the SEC will win this motion. And even if the Court finds the witness is an “expert,” I think instead of striking the witness, it will just allow Ripple to depose her, etc. like it did before.”
The court ruling on the Motion to Strike will draw investor interest. However, the final SEC vs. Ripple court ruling will garner more investor interest.
The SEC argued for an almost $2 billion penalty for Ripple selling unregistered XRP to institutional investors. Furthermore, the SEC asked the courts to prohibit Ripple from selling XRP to institutional investors. An injunction would impact the US market expansion plans.
The SEC must file its remedy-related reply brief in response to the Ripple opposition brief filing by May 6. The SEC reply brief, the final court filing before deliberation begins, will warrant investor attention.
Since there is no trial, Judge Analisa Torres will consider the remedy-related briefs and decide the amount Ripple must pay for breaching US securities laws. Judge Torres must also consider whether an injunction is appropriate.
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