Lawyer for 66,000 XRP holders pushing to fight SEC in Ripple lawsuit. Thanks John
As Ripple and SEC intensify their legal battles, attorney John Deaton and his clients are trying to jump into the fray. Will XRP investors get their day in court?
On Christmas Eve of 2020, attorney John Deaton was rocked by the United States Securities and Exchange Commission’s lawsuit against Ripple and its two executives — CEO Brad Garlinghouse executive chairman Chris Larsen. As he read that the SEC was charging Ripple for selling unregistered securities worth over US$1.3billion from 2013, his surprise turned to disbelief.
“I was taken aback by it because it was a departure from previous litigation,” Deaton told Forkast.News in a video interview. “But the way the complaint is written and alleged, it’s alleging that the token itself — XRP — is inherently security. And so after that, I just decided that we had to fight back because I do not believe the [SEC] was actually looking out for investors.”
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