By Jake Simmons – March 19, 2021. (Crypto News Flash).
As CNF reported, Judge Analisa Torres of the Southern District of New York on March 15 denied John E. Deaton’s motion to intervene in the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple on behalf of thousands of XRP holders. Torres reasoned that under the court’s local rules, a pre-motion letter must be filed requesting approval of the motion.
Deaton had wanted to refer to an exemption, which Torres did not recognize. A few days after that, Deaton is now launching a new effort. As Deaton writes on a blog post on CryptoLaw, he filed the pre-motion letter yesterday, March 19, to request intervention by XRP holders, while there are now over 10,000 XRP investors supporting the motion.