The litigation between the US Securities and Exchange Commission and the San Francisco-based blockchain company Ripple took a new turn. The regulator’s motion to revoke the amici curiae status granted to XRP holders was dismissed by Federal District Judge Analisa Torres.
According to the defense lawyer James K. Filan, the motion to prevent attorney John Deaton from further proceedings was also denied. His“Amici can’t participate in expert challenge now but may file an application to brief concerns with SEC’s expert at summary judgment.”to Judge Torres, the plaintiffs had requested to revoke the amici status granted to the opposition and bar any further participation of John Deaton, XRP holders’ representative in the case last week.
Back in March 2021, the group of XRP holders, represented by attorney Deaton, filed a motion to intervene in the case.For the uninitiated, “Amici Curiae” can be defined as an individual or organization that is not a party to a particular litigation but is permitted to advise a court.
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Source: ExpressNews - 🏆 519. / 51 Read more »