The legal battle between Ripple and the US Securities and Exchange Commission (SEC) is escalating, with recent filings focusing on the nature of a key witness's declaration. Ripple argues it's unsolicited expert testimony, while the SEC views it as standard evidence. As both parties await a court ruling, speculations are rife about a potential settlement this summer.
The case, which began in December 2020, has seen increased activity with the start of the trial process on April 23. The SEC filed its opposition to Ripple's motion to strike new expert materials on April 29, centering on testimony from key witness, Andrea Fox. The SEC insists that the "Fox Declaration" applies basic arithmetic to Ripple's financial records and is not an expert report.
Ripple countered, stating that the SEC failed to prove that the declaration is summary evidence rather than expert testimony. Ripple also suggested that the Commission failed to disclose Fox before the end of the discovery process. As the legal battle enters a stage with fewer developments, both parties are awaiting the judge's ruling. A potential settlement this summer could officially close the lawsuit.