James K. Filan reported that John E Deaton will be filing a Motion to File an Amicus Brief in Zakinov v. Ripple.
James K. Filan on twitter reported that John E Deaton will be filing a Motion to File an Amicus Brief in Zakinov v. Ripple. He noted:
#XRPCommunity#XRP @JohnEDeaton1 will be filing a Motion to File an Amicus Brief in Zakinov v. Ripple in California. There, the plaintiffs claim that Ripple sold XRP as an unregistered security.
They are asking the court to certify a class of ALL XRP Holders who purchased and now hold XRP or who sold XRP at a loss. The proposed class would include XRP Holders worldwide, including the 75,890 XRP Holders around the world who disagree with the plaintiffs in Zakinov and say XRP is not a security. Also, the proposed class is not limited to direct sales by Ripple and includes all sales of XRP, including secondary sales and international sales in countries where XRP has already been determined not to be a security. @JohnEDeaton1 will argue, among other things, that the court should not certify the class because of these conflicts and because there is only a small number of XRP Holders who claim XRP is an unregistered security while so many XRP Holders worldwide claim it’s not.
@JohnEDeaton1 will argue that those small number of plaintiffs in Zakinov cannot fairly represent so many who disagree with them, including XRP Holders in places where XRP is not even considered a security.