In the Ripple case, the defendants have charged the U.S. Securities and Exchange Commission with adopting an “extreme approach” to expert assessments. In a recent letter to Judge Analisa Torres, they assert that the plaintiff is attempting to stifle “substantive criticism.”
Late in May, attorney John Deaton of the Deaton Law Firm sent a letter requesting permission to submit a brief on behalf of tens of thousands of XRP holders.
Patrick B. Doody, the SEC’s expert witness, has just prepared a study on what led XRP holders to acquire the disputed cryptocurrency.
Deaton has said that he intends to file a Daubert motion to exclude unqualified evidence. Jeremy Hogan, an attorney at Hogan & Hogan, described the move as “significant” since excluding the expert would make it much more difficult to establish its case.
The court refused the SEC’s application to seal its objection letter to the amicus request to participate in the Daubert challenge on June 9 on the grounds that the agency was attempting to conceal more information than required. The SEC filed its suggested redactions to protect the expert witness from “additional threats” and “harassment” on June 15.
The SEC claimed that no expert witness should expect to be subjected to a campaign of humiliation, intimidation, or threats just for consenting to serve as an expert witness.
However, the defendants contend the government is attempting to “suppress public criticism of its experts’ conclusions.”