The U.S. Securities and Exchange Commission is against John Deaton, an attorney and XRP Supporter, being allowed to continue participating in Ripple’s lawsuit.
In April 2021, Deaton and five other XRP holders, referred to as “movants” in the case documents, filed a motion to intervene in the case “on behalf of all similarly situated XRP Holders.”
U.S. District Judge Analisa Torres said last October that while the XRP holders cannot intervene in the case, she will allow them to act as “amici curiae” in the SEC’s action against Ripple Labs Inc.
“Amici Curiae” means “friend of the court,” according to Cornell Law School. As long as the court approves them in advance, amici curiae may submit documents called amicus briefs (documents on relevant issues to the case).
The SEC filed its lawsuit against Ripple Labs in late December 2020, declaring XRP a security and accusing the San Francisco payments company of selling the crypto asset without proper authorization.
Deaton wrote a May letter requesting To represent 67,000 XRP owners. The move was a direct response to the SEC wanting to bring in an expert to testify on what XRP holders thought when they purchased the sixth-largest crypto asset.
Recently surfaced court documents indicate the SEC filed a letter to Judge Torres in early June requesting that Deaton and the XRP investors be prevented from filing an amicus brief regarding the opinions of one of the Commission’s experts.
#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: In a highly redacted letter, the SEC alleges threats against an expert and asks Judge Torres for amici status to be revoked from XRP Holders, and to bar @JohnEDeaton1 from any further participation in the case.https://t.co/a3xVJyCs99
— James K. Filan ???? 106k (beware imposters) (@FilanLaw). July 19, 2022
Torres was also asked to ban Deaton’s participation in the lawsuit. The SEC claims the movants’ “amici” status is only permitted on briefings related to legal issues, not factual ones.
Crypto attorney James K. Filan notes The amici have up to Monday, July 25th for their responses.
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