XRP Lawsuit News: Ripple and its two chief executives have been facing legal actions from the U.S. Securities and Exchange Commission (SEC) for dealing in securities. However, This is not the only legal trouble tackled by the Ripple labs and now Attorney John Deaton has also decided to step into other cases supporting the defendants.
XRP Holder’s Lawyer To The Rescue
According to filings, Attorney John Deaton has filed a motion to file an Amicus Brief in the Zakinov Vs Ripple lawsuit. He mentioned that XRP holders want to file to support the defendant’s opposition to the lead plaintiff’s motion for class certification.
John Deaton is Amicus curiae or XRP holder’s lawyer in the U.S. Vs XRP lawsuit. He has presented different aspects related to the XRP as a token in and outside the court. Read More XRP lawsuit News Here…
Court filings mentioned that the Plaintiff (Zakinov) has opposed XRP holders’ request for leave. While the defendant has consented. However, Plaintiff’s opposition shows that the interests of XRP holders and the known identifiable class of over 75K which stands with the Plaintiff’s proposed class in the case will not be pursued. While it will be hard to protect them until the court grants him the leave to file the proposed Brief.
It is being mentioned that the proposed Amici Curiae are six individual XRP holders and SpendTheBits, Inc. XRP holder’s perspective is said to be unique and very different from the parties in the case.
The lead Plaintiff purchased XRP between January 1 and 16th, 2018 and they went on to sell that holding around January 9th and 17th, 2018. On the other hand, the proposed Amici, the 75k XRP holder currently owns XRP.