XRP News: The crucial lawsuit between U.S. Securities and Exchange Commission and Ripple Labs is waiting for a Summary Judgment from the district court. However, another legal battle (Zakinov v. Ripple) enforced by investors claiming that XRP is a Security is ready to hit the court. It is expected that the Zakinov lawsuit can affect the US SEC Vs Ripple Case.
XRP Holder Going Against Ripple?
XRP Holders Claiming XRP to be a security and Ripple lawyers are gearing up for the vital court hearing scheduled on April 26, 2023. As per the details, the court hearing is set for oral arguments around the question of certifying the class of XRP holders who sued Ripple.
It is mentioned that Bradley Sostak, a plaintiff in the case who owned an XRP token for around two weeks is asking to be the lead plaintiff in the class. Moreover, he is asking to represent all the XRP holders who either owned it and sold it at a loss or own it today. Read More XRP News Here…
John Deaton, Amicus Curiae in the Ripple Vs SEC lawsuit has also filed a motion for leave to file an amicus brief in Zakinov v. Ripple. He intends to stand for over 75K XRP holders who believe that XRP is not a security. However, his motion hasn’t been ruled on yet.
Attorney Deaton informed that the judge has opened online access to around 500 members of the public. He added that the hearing will be online unlike the LBRY Vs SEC Hearing, as the judge does not allow Amicus counsel to participate in oral argument. The lawyer stated that this is a long standing rule of the Court.
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