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- Attorneys for Ripple are gearing up for a crucial court hearing scheduled for Wednesday.
- The plaintiff aims to represent all XRP holders in the class action lawsuit against Ripple.
A Summary Judgment from the district court is still awaited in the significant dispute between the U.S. Securities and Exchange Commission and Ripple Labs. John E. Deaton, a lawyer representing the XRP community, announced today that he will be attending a Zoom hearing. Unlike the case of LBRY vs. the U.S. Securities and Exchange Commission (SEC), the court handling this case will not allow amicus attorneys to participate in the oral hearing.
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Reports indicate that XRP holders who consider it a security are involved. Ripple’s legal team is preparing for a significant court hearing set for Wednesday. This hearing will focus on oral arguments regarding the certification of the class of XRP holders who have filed a lawsuit against Ripple. Furthermore, Bradley Sostak, a plaintiff who has owned XRP for only two weeks, seeks to become the lead plaintiff in the class action.
Additionally, he has requested the court to establish a class for all XRP holders who have purchased, held, or traded XRP tokens at a loss. The list of XRP holders who support Ripple in its legal confrontation with the Securities and Exchange Commission includes 75,000 participants.
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