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XRP Lawyer Deaton Files Amicus To Join Another Ripple Lawsuit

The U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple Labs is not the only battle the company is currently fighting. In fact, there is a court case that has been under trial for a longer period of time: The class action lawsuit filed by XRP investors against Ripple Labs and CEO Brad Garlinghouse, which has been pending since November 2018.

The case, which is being heard in the US state of California, is led by lead plaintiff Bradley Sostack, with three lawsuits (Zakinov, Oconer, and Greenwald) consolidated into one. The plaintiffs accuse Ripple of selling XRP as an unregistered security and seek damages for losses suffered from the sale and alleged promises by Ripple. In addition, the plaintiffs are asking the court to also classify XRP as a security.

Attorney John E. Deaton, who is already involved with a respective amicus brief in the Ripple vs. SEC and LBRY vs. SEC cases, is now getting involved in this case as well. As prominent criminal defense attorney James Filan writes in a series of tweets, Deaton is filing an amicus brief in Zakinov vs. Ripple.

(By Jake Simmons)

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