Attorney John Deaton, the lawyer representing over 70,000 XRP holders, has recently stated the biggest danger in the ongoing XRP lawsuit between Ripple, the San Francisco cross-border payment firm, and the United States Securities and Exchange Commission (SEC).
Following the filing of Ripple’s opposition to the SEC summary judgment motion, a lot of crypto pundits have shared their opinions on what they expect to happen in the long run. Attorney John Deaton also joined the conversation in order to air his viewpoint as a legal expert.
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In a tweet on the 21st of October, John Deaton said with what he read in Ripple’s filing, he does not think the SEC will be granted a judgment at all.
However, he pointed out that the Judge could say a jury must decide on facts, which he termed as the biggest danger.
John Deaton tweeted, “I haven’t read the SEC’s opposition to Ripple’s summary judgment because it’s not filed yet, but after reading Ripple’s and knowing what amicus will say, I don’t believe the SEC will be granted a Judgment at all. The biggest danger now is the judge says a jury must decide facts.”
I haven’t read the SEC’s opposition to Ripple’s summary judgment because it’s not filed yet, but after reading Ripple’s and knowing what amicus will say, I don’t believe the SEC will be granted a Judgment at all. The biggest danger now is the judge says a jury must decide facts. https://t.co/OYmlpQgyWt
— John E Deaton (220K Followers Beware Imposters) (@JohnEDeaton1) October 21, 2022
Why is a Jury Deciding Facts the Biggest Danger?
Obviously, XRP holders are already losing their patience on the long-standing lawsuit. Although March 2023 has been predicted, investors want the case to end before the end of 2022. And if a jury has to come in at this time, the case may take longer than the first quarter of 2023.
Typically, judges decide on the case of law and juries on matters of facts. Going by John Deaton’s assertion, the Ripple-SEC lawsuit is becoming a matter of facts.
So the chance of a jury getting involved in the lawsuit has started to become real. As aforementioned, the danger in having a jury on board is that the resolution of the suit may go beyond everyone’s timeframe.
For XRP holders, Ripple’s victory is no longer the only thing they care for in the ongoing litigation, but when it will end.
The SEC filed the lawsuit against Ripple in the middle of a bull market in late 2020. This bull market pushed Bitcoin (BTC) to record its price all-time high of $69,000, but XRP missed out.
So, XRP holders’ agitation is understandable. The earlier the case ends the better for the teeming XRP community members.
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