Stuart Alderoty, the General Counsel of Ripple, has stated that the company’s confidence increases as each ruling in its legal dispute with the SEC go in their favor.
“As we have said throughout, we have always felt confident about our case and with each ruling, even more so,” Alderoty stated, airing his views in a Twitter thread earlier today.
Stuart Alderoty’s recent statement comes after Judge Analisa Torres ruled on Daubert’s motions that aimed to exclude expert testimony in the legal battle between Ripple and the SEC. The judge granted and denied some of the motions from both sides, and the ruling seemed to favor XRP holders to a considerable extent.
Following Judge Analisa Torres’ decision on Daubert’s requests to exclude expert testimony, Alderoty released a new statement. According to yesterday’s report, the judge approved and rejected both sides’ motions in part. As stated, the verdict looked to favor XRP holders greatly.
Stuart Alderoty also considered the recent ruling a win for Ripple and shared his thoughts. He is not alone in his assessment, as others in the XRP community, such as Mr. Huber, have also expressed similar views. However, Alderoty provided an additional context in his recent thread.
According to Stuart Alderoty, the recent ruling in favor of Ripple saw the court reject the SEC’s expert testimonies on the expectations of XRP buyers and what caused XRP’s price to rise. On the other hand, Ripple’s expert testimonies on various aspects, including the Howey test’s requirements, tax and accounting treatment, and currency experts’ opinions on XRP, were retained. This indicates that the SEC’s claims that XRP is a security have suffered significant setbacks, while Ripple’s case has remained strong in the judge’s opinion.
Read more: Ripple: Payment Industry Embraces The Potential Of Cryptocurrencies
The recent release of the ruling by Judge Torres has led to more speculation on when she will issue a ruling on summary judgment motions. John E. Deaton, an attorney representing numerous XRP holders in the case, has indicated that he does not anticipate significant delays. Alderoty mentioned that a ruling could be issued by the end of the month, which aligns with predictions from Attorney James K Filan, who has been closely following the case.
Furthermore, the next ruling expected to come in is regarding the omnibus motions that seek to seal materials related to summary judgment motions. This ruling will be crucial as it will determine if the public will have access to the Hinman documents that have been controversial. It is a development worth monitoring closely.
