John E. Deaton of Deaton Law Firm has filed a motion to intervene in the SEC vs. Ripple legal battle
XRP holder and Deaton Law Firm managing partner John E. Deaton has filed a motion to intervene in Ripple’s legal battle with the U.S. Securities and Exchange Commission.
In a letter to Judge Analisa Torres, Deaton says that he has been contacted by over 6,000 members of the community:
Although I have not been contacted by millions of XRP Holders referenced in Ripple’s Answer, I have been contacted by well over six-thousand of those XRP Holders requesting that their individual and collective voices be heard.
If the motion gets approved by the judge, the owners of the cryptocurrency affiliated with Ripple Labs will act as a third-party defendant in the case to protect their interests.
XRP tanked 67 percent in days after the lawsuit was made public on Dec. 22, with multiple exchanges making trading suspension or delisting announcements.
In January, XRP owners also attempted to force the SEC to amend its complaint by filing a petition for a writ of mandamus, but the regulator recently responded with a motion to dismiss it.