Attorney John Deaton, the lawyer who represents the thousands of XRP token holders in the Ripple lawsuit against the U.S. Securities and Exchange Commission (SEC), has filed his notice of appearance on behalf of an Amicus Curiae in the LBRY lawsuit.
The US SEC had in March 2021 filed a lawsuit against LBRY, claiming that the firm sold LBC tokens in violation of the law by failing to register with the agency.
Naomi Brockwell is the founder of Crypto Law, a platform that provides news and analysis on crypto-related U.S. legal and regulatory developments, along with Deaton.
In July 2023, the United States District Court for the District of New Hampshire issued the final judgment in the US SEC vs. LBRY lawsuit.
It was perceived that the LBRY case ruling could have a bearing on the XRP lawsuit. However, U.S. District Judge Analisa Torres granted summary judgment in favor of Ripple on July 14, 2023. The judgment deemed the XRP token sale to retail buyers as not securities.