The XRP holders’ camp has recorded another win in the ongoing lawsuit between Ripple, the San Francisco-based cross-border payment firm, and the United States Securities and Exchange Commission (SEC), as Judge Torres, just ruled that attorney John E. Deaton will continue to represent the interest of 67,000 XRP holders in court.
The new development was recently shared by James K. Filan, the defense lawyer and former federal prosecutor.
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It can be recalled that the SEC filed a motion to request the prohibition of Attorney John Deaton, who represents 67,000 XRP investors, from further participation in the Ripple-SEC case.
According to the report, the Judge has denied the commission’s motion to revoke amici status and bar Deaton from further proceedings. This is seen as another big win for the XRP community members, who have been anticipating the end of the long-standing lawsuit.
James K. Filan tweeted, “BREAKING: Judge Torres denies SEC’s Motion to Revoke amici status and bar @JohnEDeaton1 from further proceedings. Amici can’t participate in expert challenge now but may file application to brief concerns with SEC’s expert at summary judgment.”
#XRPCommunity #SECGov v. #Ripple #XRP BREAKING: Judge Torres denies SEC's Motion to Revoke amici status and bar @JohnEDeaton1 from further proceedings. Amici can't participate in expert challenge now but may file application to brief concerns with SEC's expert at summary judgment pic.twitter.com/fGVf6ZvQma
— James K. Filan 🇺🇸🇮🇪 106k (beware of imposters) (@FilanLaw) July 26, 2022
Reacting to the new development, Fred Rispoli, a supposed member of the XRP community, described the update as a win for Ripple and XRP.
“This is a win for sure. Although J. Torres denied Amici’s request for Daubert participation, the same purpose will be achieved by SJ participation. And although she implicitly denied access to Doody report, SEC already lost that issue re: Daubert motion redactions.”
It should be noted that the latest ruling implies that John Deaton is allowed to stay on the case and retain amici status. He will also be allowed to raise concerns about the regulator’s expert when filing his summary judgment brief.