SEC vs. Ripple – Amici aims to claim Doody’s ‘reasonable’ XRP holders.


A new development continues in a lawsuit between the US regulator (SEC) and San Francisco-based fintech company Ripple. So, it is not surprising that XRP holders have become impatient given the dynamism and volatility of the cryptocurrency space.

With this in mind, ‘Amici Curiae’ Advisor John E. Deaton said: filed A letter to US District Judge Analisa Torres asking him to consider the views of XRP holders.

(Status, meaning ‘friend of the court’ in Latin, refers to a person who is not a party to a case but assists the court by providing information, expertise, or insight related to the matter under discussion.)

want to be friends?

John E. Deaton filed an application asking the judge to write a brief on behalf of the 67,300 affected or injured XRP holders. The move follows testimony from expert SEC witness Patrick B. Doody, who provided a report on what information ‘reasonable’ XRP holders relied on while purchasing their tokens.

The famous lawyer James Filan Twitter claiming this development

“Amici is requesting permission to file a briefing with SEC experts who claim to know the motives of the holders of XRP in the purchase of XRP. Amici is also seeking access to expert reports and testimony.”

Ergo, Amici (John Deaton), 67,000 “Real XRP Holders” Will Give the Court a Meaningful Perspective We will present the matter fully and fully to help the Court reach an impartial conclusion.

Such assistance will prove beneficial during the briefing on disposition consent. However, the court may, in its reasonable discretion, request or deny further applications. In any case, given the previous green light, optimism is high. The judge’s order last October granted Amicus Curiae status with 25,000 XRP holders.

“The Movants can use their abilities to make a goodwill action in this action. Therefore, Movants can assist the court by briefing on legal issues related to cases previously approved by the court.

Any surprises ahead?

First of all, the SEC can deny it. No need to think here. Jeremy Hogan also shared this sentiment on social media.

Other delays may also occur. Yes, XRP holders secured victory in October 2021, but at what cost?

Consider this. Deaton filed for arbitration in March and had to wait until October for a decision.

However, XRP noted a 1% gain at press time.

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