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September 26, 2023

Judge Approves Investment Banker as Declarant in SEC vs. Ripple Legal Battle – Here’s the Latest

A federal judge has approved an investment banker to serve as declarant in the high-profile case involving the U.S. Securities and Exchange Commission (SEC) and digital asset firm Ripple. The approval was made by U.S. Magistrate Judge Sarah Netburn who has been overseeing the case. The investment banker, David O’Brien, is the president of Fromer Advosory Partners, LLC. He was hired by the SEC to look into Ripple’s activities and provide independent observations and a market valuation of the company. This is an important step in the case as it will set the tone for the discovery process, which will be crucial for establishing the facts and circumstances of the case. O’Brien’s work will be overseen by a court-appointed master, who will make sure that the discovery process is conducted in accordance with the court’s rules and procedures. Moreover, the master will be instrumental in resolving any disputes between the parties that may arise as a result of discovery. This is significant as the court will rely on his findings in order to make a final ruling on the case. The investment banker is the latest addition to the high-profile legal battle between the SEC and Ripple. The case has attracted a lot of attention from both sides and has been progressing slowly but steadily since it was first filed in December 2020. It is expected to be a long-fought process, which is why the court approval of O’Brien as a declarant may be an important step for getting the case to a resolution.