Buy $GGsDeaton And Other Lawyers On Odds Of Judge Torres Granting SEC’s Interlocutory Appeal
Prominent XRP lawyer John E. Deaton and other lawyers reacted to the U.S. Securities and Exchange Commission (SEC) filing a memorandum to further support its motion for an interlocutory appeal. Will Judge Torres grant the SEC’s motion for interlocutory appeal? Lawyers Deaton, Bill Morgan, Marc Fagel, Fred Rispoli, and others commented on the odds of it.
Pro-XRP Lawyer Deaton and Other Attorneys on New Filing by SEC
Lawyer John E. Deaton argues that the SEC’s filing to support its motion for interlocutory appeal is a “professional embarrassment”. He said the SEC blames Ripple for prolonging the lawsuit, wasting valuable judicial resources, and violating securities laws, but it’s the SEC stretching the case for years.
Deaton stated if Judge Torres allowed the SEC interlocutory appeal, it would take 1.5-2 years to get a ruling from the court. Also, there’s still a trial to take place next year, an interlocutory appeal will not end the litigation. Judges will side with Ripple as the SEC has failed to prove the Howey Test’s third prong. Even if the appeal is granted, the SEC will fail to prove why XRP is a security.
Also, the SEC dragging Ripple executives Brad Garlinghouse and Chris Larsen to the lawsuit was a big mistake for the regulator.
Lawyer Bill Morgan said the SEC is in trouble in this motion. Judge Torres never concluded that “there can be no investment contract for offers and sales through crypto asset trading platforms without direct contact between the issuer and the investor.” The SEC’s argument is completely illogical and manipulative.
Retired securities lawyer Marc Fagel and attorney Fred Rispoli stated the SEC has made decent arguments, but think the odds are against granting the request for interlocutory appeal.
3/3 …a political element so if that is a factor for J. Torres (I don't think it is but it's not without reason to think the opposite), she can avoid that issue by certifying and putting the onus on the 2nd Cir, as that court can simply deny the request.
— Fred Rispoli (@freddyriz) September 9, 2023
Also Read:
Play 10,000+ Casino Games at BC Game with Ease
- Instant Deposits And Withdrawals
- Crypto Casino And Sports Betting
- Exclusive Bonuses And Rewards
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- XRP Price Dips on US-Iran Conflict, But Capitulation Signals March Rebound
- Crypto Market at Risk as U.S.–Iran War Threatens Inflation With Oil Price Surge
- Polymarket U.S.–Iran Strike Bets Fuel Insider Trading Speculation as Crypto Traders Net $1.2M
- Cardano’s DeFi TVL Climbs as USDCx Stablecoin Launches on Network
- Gold vs. Bitcoin: Can Gold Outperform BTC Amid US–Iran Conflict?
- Top Analyst Predicts Pi Network Price Bottom, Flags Key Catalysts
- Will Ethereum Price Hold $1,900 Level After Five Weeks of $563M ETF Selling?
- Top 2 Price Predictions Ethereum and Solana Ahead of March 1 Clarity Act Stablecoin Deadline
- Pi Network Price Prediction Ahead of Protocol Upgrades Deadline on March 1
- XRP Price Outlook As Jane Street Lawsuit Sparks Shift in Morning Sell-Off Trend
- Dogecoin, Cardano, and Chainlink Price Prediction As Crypto Market Rebounds
