The United States Securities and Exchange Commission (SEC) has recently filed a motion for an extension of time to file an objection to Attorney John Deaton’s amici request to represent over 65,000 XRP investors in the ongoing lawsuit against Ripple, the San Francisco-based cross-border payment firm.
As earlier reported by TimesTabloid, Attorney John Deaton, the lawyer representing thousands of XRP investors, is seeking permission from the Judge to file a brief regarding the SEC expert who claims to know the motivation of XRP holders when purchasing the digital currency.
According to the recent update from James K. Filan, the SEC has requested a time extension until June 7th to file an objection to the request of XRP holders’ lawyer, a move tagged by many XRP community members as another unpalatable delay tactic from the regulator.
James K. Filan tweeted, “The SEC has filed a motion for extension of time until June 7, 2022 to file objection to amici request to participate in briefing regarding the expert challenge.”
#XRPCommunity #SECGov v. #Ripple #XRP The SEC has filed a motion for extension of time until June 7, 2022 to file objection to amici request to participate in briefing regarding the expert challenge. pic.twitter.com/ZCxhqv8OAW
— James K. Filan 🇺🇸🇮🇪96k+ (beware of imposters) (@FilanLaw) May 24, 2022
Jeremy Hogan Describes the Significance of John Deaton’s Request
According to Attorney Jeremy Hogan in a video on YouTube, the move is a direct response to the SEC’s interest in bringing in an expert to testify on what XRP holders were thinking when they purchased the 6th largest crypto.
Hogan pointed out that the move could make a difference in the ongoing legal tussle.
Jeremy Hogan noted:
“The judge granted XRP holders amicus status, but they still have to make a request to the judge before doing anything, and here in this motion, Deaton requests leave of court to file an amicus brief in a Daubert challenge relating to the expert opinion of a Mr. Doody.
“Let’s look at page one…. ‘Amici respectfully requests leave to file an Amicus Brief regarding the opinions of Plaintiff’s expert, Patrick B. Doody. Daubert concerns related to Mr. Doody’s opinions represent the precise nature of the difficult issues envisioned by the court when it granted amici status…
“‘Counsel for amici recently became aware of Mr. Doody’s report regarding the conduct of individual XRP holders such as amici.’”