SEC v. Ripple – Amici takes aim at Doody’s ‘reasonable’ XRP holders assertion
The lawsuit between American regulators (SEC) and the San Francisco-based fintech firm Ripple continues to see new developments. Ergo, it is perhaps no surprise that holders of XRP have grown impatient given the dynamics and volatility of the cryptocurrency space.
Bearing this in mind, John E. Deaton, Counsel for ‘Amici Curiae,’ has filed a letter asking U.S District Judge Analisa Torres to consider the views of XRP holders.
(The status, which is Latin for ‘Friend of the Court,’ refers to someone who is not a party to a case, but who assists the court by offering information, expertise, or insight that has a bearing on the issues being discussed.)
John E. Deaton has filed a motion letter asking the judge to permit him to write a brief on behalf of 67,300 affected/hurt XRP holders. This move comes on the heels of testimony from an expert SEC witness – Patrick B. Doody – who gave a report on what information ‘reasonable’ XRP holders relied on while buying the token.
<p lang=«en» dir=«ltr» xml:lang=«en»>an expert SEC witness who gave a report on what information “reasonable” XRP holders were relying on when they bought the token. Deaton says he bets this witness gave testimony without interviewing a single XRP holder. More to come.— Eleanor Terrett (@EleanorTerrett) May 21, 2022
Popular attorney James Filan was one of the first to tweet about this development, claiming,
“Amici request permission to file brief regarding SEC expert who claims to know motivation of XRP holders when purchasing XRP. Amici also seek access to expert’s report and deposition testimony.”
Ergo, Amici (John Deaton), representing 67k “ACTUAL XRP HOLDERS” would provide the Court with a meaningful perspective. It would ensure complete and plenary presentation
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