Summary:
In a recent tweet, John Deaton, the legal representative of XRP holders in the Ripple-SEC lawsuit, stated that a class action brought against Ripple would likely be void if Ripple wins the case. The class action, which accuses Ripple of violating securities laws, was granted certification by Judge Phyllis Hamilton. Ripple challenged the certification, but Judge Hamilton ruled in favor of the plaintiffs. However, Deaton believes that if the SEC loses its lawsuit against Ripple, the class action will be invalidated. He also noted that the lawsuit only applies to U.S. investors, as regulators in other countries do not recognize XRP as a security.
Key Points:
– John Deaton, legal representative of XRP holders, believes that the class action against Ripple will be void if Ripple wins the SEC case.
– The class action accuses Ripple of violating securities laws by raising money through sales of XRP to retail investors.
– Judge Phyllis Hamilton granted certification for the class action, despite Ripple’s challenge.
– Deaton believes that if the SEC loses its lawsuit against Ripple, the class action will be invalidated.
– The lawsuit only applies to U.S. investors, as regulators in other countries do not recognize XRP as a security.
Hot Take:
If Ripple wins the SEC case, it is likely that the class action brought against the company will be made void. This could have significant implications for XRP holders involved in the class action, as they may not be able to pursue their claims against Ripple. It also highlights the importance of the outcome of the SEC case, as it could potentially impact the legal standing of other similar lawsuits in the future.
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