Still waiting on SEC's filing but so far...1st, J. Torres is not going to reverse her amici ruling. SEC's backhanded reconsideration motion: DENIED. 2nd, did Ripple team forget what the motion is about? Providing Mr. Doody's report to amici to participate in Daubert...1/4
...motions, yet Ripple team explicitly took no position on that (though did say it wants amici in dispositive stage). Weird. 3rd, nice job on the first 2 arguments--tell Court defendants threatened as well, and remind Court of multi-billion dollar pain inflicted on everyday...2/4
...#XRPHolders by SEC. 3rd, SEC made a "mistake" in not designating report confidential? I would have to imagine J. Torres thinking to herself, 'Just like the "mistake" you made when you first said Hinman speech was personal?.' 4th, if SEC brief accuses Ripple team of lying...3/4
...and disclosing to @JohnEDeaton1, it better prove it or J. Torres will be pissed about such a serious accusation.
Bottom line prediction: Amici participates but maybe not in Daubert round, but does get access to some discovery provided counsel signs Protective Order. 4/4
PS: Can't believe I forgot to add this--Brief confirms SEC did not have its expert interview ONE SINGLE #XRPHolders!!! That is just lazy and undisciplined. I could go into detail on how bad SEC messed up here but I'm pretty sure it is monitoring my account so no freebies.
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I'm now aware of 7 of Ripple's expert witnesses. It's like looking at the 1992 Dream Team (which not only won gold, but massacred every opponent on the way there). Every one was meticulously chosen to address a highly specialized area of this case and...1/6
...specifically to avoid overlap with their "teammates" to avoid Daubert challenges. The foresight of the Ripple legal team is...inspiring. Every. Single. Box. Checked. And I still don't know the other 3 (but have some good ideas). But I can't tell #XRPCommunity about any...2/6
...of these new finds. Why? Please understand as an attorney licensed in multiple states, I took oaths to follow many ethical rules and I take those seriously--even though we know other attorneys, even government lawyers (especially gov attys?), do not. With the result...3/6
There are 3 types of written discovery: RFAs, NUIs and RFPs. RFAs (requests for admission) are important because admissions become undisputed facts—and failure to answer is deemed an admission. A party uses RFAs to force the other side to take a position. 2/15
No surprise, SEC trying to have it both ways. Not answering (not stating its position) by objecting. But its objections are ridiculous. SEC doesn’t know what the terms “market participant” “digital asset” “policy” “ether” and “bitcoin” mean? Give me an effing break. 3/15
Wisely IMO, plaintiff's counsel is letting the SEC case play out to conserve time and money (you know, the opposite of what SEC is doing), but there was a big discovery dispute decision on 4/28. Plaintiffs want all discovery from SEC case handed to them by Ripple and Ripple...2/4
...objected bc of concerns discovery related to 3rd parties isn't for Ripple to decide. Links in last tweet, but Ripple says 28 3rd parties agreed, 15 have objected (9 of whom are current or former employees) and 4 haven't responded. Court ordered production but allowed 3rd...3/4
J. Torres order from @FilanLaw is great news and has changed my timeline estimates. Remember, litigation changes fast, so new facts = new evaluation. First, I love how J. Torres didn't rubber stamp the timeline proposed by the parties. I did not expect that at all. 1/5
Second, settlement before SJ has now increased to a 50% probability from 20% for me. Why? J. Torres ROCKETED up the expert witness motion deadline. It was proposed to be same as SJ schedule by parties. This is critical because expert testimony will account for 75% of how...2/5
...this lawsuit ends. With expert issues done before SJ, all parties will have a better understanding of their chances at SJ and, if necessary, trial. Crushing blows or victories on what a party's expert can testify to will significantly impact litigation strategy. 3/5
Update time: We’ve received an enormous number of responses from prospective class members interested in signing up for the class. The supportive comments in the emails are extremely encouraging so, again, thank you. 1/15
Nearly my entire attorney career has been dedicated to fighting for clients whose lives are devastated by terrible abuse and neglect. Here, we seek to establish a class of XRPL Network Users, which means those people are in the forefront of my mind at all waking hours. 2/15
Since the April 11 filing, there has been a lot going on behind the scenes that, unfortunately, I can’t fully discuss publicly due to attorney-client privilege issues and other attorney requirements and obligations. I apologize for this and recognize it is frustrating. 3/15
Second, very heartwarming to see some of you help defend against the trolls. While appreciated, please don't feel obligated. I am a litigator, and I've been through much, much worse battles than Twitter hate.
Third, HOMER and WILLY. Biggest VALID criticism to date. Let me say that those two names were much, much worse in the original draft! The names HOMER and WILLY match the respect level these two deserve, but I am going to amend the complaint to revert to CLAYTON and HINMAN...
...no sense walking into an easy motion to strike. The purpose of HOMER and WILLY has been conveyed. Keep emotions more in check--lesson learned. Fourth, this will be a major battle. If I were defense counsel, I would file a Rule 12(b)(6) motion to dismiss for failure to state...