Attorney Deaton Predicts Judge Torres' Rejection of SEC Appeal Request
Speculations and discussions around the Ripple versus SEC lawsuit continue even after the fintech company secured a victory in recently-released summary judgment.
Recent tweets capture a correspondence between CryptoLaw founder John Deaton, Attorney Bill Morgan, and former SEC regional director Marc Fagel concerning the possibility of an appeal on the case.
In a July 16 tweet, Deaton speculated that US District Judge Torres would not approve an appeal request from the SEC.
A statement from an XRP enthusiast claiming that Deaton said none of the parties could appeal the judge's ruling until the final court resolution triggered an exchange between the trio.
However, reacting to Deaton's statement, Fagel said that while it is up to the court to approve an appellate, either party can seek an immediate appeal.
In response to Fagel, Deaton clarified his statement, noting that he never implied an appeal can't come before a jury verdict. He added that while both parties have the right to appeal, it won't be immediate.
Furthermore, the prominent pro-XRP lawyer explained that either party could ask Judge Torres to approve their appeal request before asking the second circuit to accept it.
However, Deaton emphasized that he doesn't think Judge Torres would approve the SEC's request.
Deaton believes the judge would decline it because she based her ruling on a strict application of the Howey factors per the SEC's summary judgment request.
According to the lawyer, Judge Torres applied the Howey analysis to each XRP sale which the SEC alleged violated securities law.
"The court agreed that the Howey test was controlling and applied it accordingly. In essence, the judge applied a non-controversial 76-year-old well-settled Supreme Court test
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