In the ongoing trial between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), Judicial Magistrate Sarah Netburn has issued a new scheduling order regarding Ripple’s motion to exclude records and materials related to the remedies section presented by the SEC. The order states that the SEC must respond to Ripple’s motion by April 29, 2024, and Ripple will present its rebuttal by May 2, 2024.
The precision of these filings is crucial as Ripple’s reply is scheduled for January 26th, four days before the SEC responds to the remedies arguments. The exclusion of expert materials, particularly Andrea Fox’s opinion, could have a significant impact on the outcome of the case’s measures phase.
Judge Netburn’s scheduling order highlights the complexities of both the SEC and Ripple’s cases. Ripple argues that the vague introduction to the expert report hinders their ability to provide analytical answers. The expert report, which focuses on Ripple’s financial reports and the liability associated with its asset XRP, holds significant authority in the case.
The recent appointment of Sarah Netburn as a federal judge in the U.S. District Court for the Southern District of New York has generated attention and raised concerns about impartiality. Netburn’s deep technical knowledge of the Ripple lawsuit and other cryptocurrency-related issues may influence her judgments in this case and others.
The crypto community has welcomed Netburn’s judicial approach, with Coinbase’s general counsel praising her performance during the XRP lawsuit. Netburn’s previous criticism of the SEC and her emphasis on transparency and fairness have earned her support from the XRP community.
As she transitions from her role as chief counsel in the crypto space, Netburn is expected to become a federal judge known for overseeing significant cases related to regulatory clarity and market progress in the future.
