Lawyer representing XRP holders joins LBRY lawsuit, potential implications for XRP case
Summary:
Lawyer John Deaton has filed his notice of appearance as an Amicus Curiae in the LBRY lawsuit, representing XRP token holders. This development could have implications for the XRP lawsuit. LBRY had appealed a judgment ordering them to pay a civil penalty. Naomi Brockwell, founder of Crypto Law, collaborated with Deaton on this matter.
Lawyer John Deaton, who represents multiple XRP token holders in the Ripple-SEC lawsuit, has officially filed his notice of appearance as an Amicus Curiae in the LBRY legal case. The submission was made on Sept. 14, 2023, to the United States Court of Appeals for the First Circuit on behalf of Amicus Curiae Naomi Brockwell. Deaton expressed his commitment to the fight, regardless of the outcome. Naomi Brockwell, the founder of Crypto Law, collaborated with Deaton to provide legal and regulatory insights on cryptocurrencies in the U.S.
In March 2021, the SEC initiated a legal action against LBRY, accusing them of selling LBC tokens without proper registration. LBRY appealed the final judgment entered on July 11, seeking to challenge the civil penalty and the ban on participating in unregistered offerings of crypto asset securities.
The U.S. District Court for the District of New Hampshire issued the final judgment in the SEC vs. LBRY case in July 2023, finding LBRY liable for violating the Securities Act of 1933. This ruling stirred potential implications for the XRP lawsuit. However, on July 14, 2023, U.S. District Judge Analisa Torres ruled in favor of Ripple, determining that XRP tokens sold to retail buyers were not securities.
Published At
9/15/2023 8:20:58 AM
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