XRP Lawsuit: Pro-Ripple Lawyer And Community Voices Concern Over Summary Judgment

In the midst of the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), members of the XRP community are growing increasingly frustrated with the delay in Judge Torres’ ruling. Australian attorney Bill Morgan has emerged as a vocal critic of Coinbase’s handling of XRP trading, as well as the delay in the XRP Lawsuit.

Attorney Bill Morgan With XRP Holders

Attorney Bill Morgan tweeted about the delay in XRP Lawsuit that clients who are parties to legal proceedings often experience long waits for judgments, sometimes exceeding a year.

We are all past well tired of waiting for it. Think how clients who are parties feel waiting sometimes over one year for a judgment which my clients have experienced many times. I guess XRP holders are in effect parties given the impact of the case on XRP.

– Bill Morgan, July 08, 2023

CoinGapre reported that Morgan highlighted Coinbase’s failure to explain the inconsistency between its decision to halt secondary market XRP trading while continuing to trade other cryptocurrencies and offering its own staking service, which the SEC considers securities.

Morgan, who admits not being fond of Coinbase, clarified that his support stems more from backing John Deaton’s initiative and what he has done for the XRP community rather than supporting Coinbase itself. Despite his endorsement, Morgan did not shy away from criticizing Coinbase’s perceived hypocrisy and inconsistency towards XRP.

Also Read: Bank Of America Praises Ripple’s Cross-Border Payments

XRP Lawsuit Judgement Awaited

XRP Lawyer John E Deaton acknowledged Morgan’s scrutiny of Coinbase’s response, stating that nobody has been more critical of the exchange’s inconsistent actions than Bill Morgan. Attorney John Deaton represents nearly 75,000 XRP holders in the XRP lawsuit as an amicus or a “friend of the court.”

Recent class action lawsuit agianst Ripple alleges a “scheme by defendants to raise hundreds of millions of dollars through sales of XRP—an unregistered security—to retail investors, in violation of the registration provisions of federal and state securities laws.”

However John Deaton has slammed the recent Class Action Lawsuit and said it is the least of Ripple’s worries. As reported earlier by Coingape, Deaton defended himself noting that his projections for judegement were just an estimate based on previous cases that had been handled by Judge Torres in the past.