NewsletterJudge Allows More Amicus To File In Support Of Ripple
Ripple and the Defendants in the crucial lawsuit filed by the U.S. SEC seem to be gaining a moment here in the Summary Judgement. Judge Analisa Torres has granted motions to file Amici Briefs to multiple backers of Ripple and the SEC.
13 Amicis to support Ripple in XRP lawsuit
Attorney James Filan reported that the judge has allowed 11 applicants to file Amicus Brief in the XRP lawsuit. The list holds the name of the Association, six XRP holders, Coinbase, Valhil, Cryptillian, Veri DAO, the CCI, Reaper Financial, InvestReady, NSEI and Paradigm.
As per the order, the formal briefs must be filed by November 18, 2022. However, experts stated that judge Torres is being liberal in granting the motion as she wants to see it all.
Eleanor Terrett, Fox Business Journalist highlighted that till now Judge has granted 16 Amicus Curiae in the XRP lawsuit. However, 13 of them are supporting the RIpple and defendants in the summary judgment. While two will be backing the SEC and one choose to take a neutral position.
XRP holder lawyer to file Amicus brief
John Deaton, XRP holders’ lawyer in the case informed that he will be filing Amicus Brief with the declaration. He asked the experts to review it. While he added that some media channels have encouraged people to buy XRP more than Ripple did.
The briefs will mention how Coinbase, a crypto exchange arguably promoted XRP more than Ripple. Deaton will explain how the SEC failed miserably to show that XRP holders are in common enterprises with Ripple.
He added that the Celsius bankruptcy as an example that destroys horizontal commonality under 2nd Circuit precedent.
Earlier, Coingape reported that as XRP’s lawyer suggested the outcome of the LBRY case won’t affect the Ripple vs SEC case. Deaton mentioned that the other case was in the 1st circuit while the XRP lawsuit is in the 2nd circuit.
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