The XRP community’s fan-favorite lawyer Jeremy Hogan has once again commented via Twitter on the current state of the court case between Ripple Labs and the US Securities and Exchange Commission (SEC).
Hogan cited attorney John E Deaton, who represents over 75,000 XRP investors in the litigation. After Judge Torres denied Deaton’s motion to intervene, she allowed the filing of amicus briefs.
As a result, Deaton filed his amicus brief for all XRP investors last week. Of Deaton’s group, more than 3,000 took the opportunity to file an affidavit.
Ripple Vs. SEC: Why A Summary Judgment Isn’t Very Likely To Happen
According to Hogan, the SEC will not be able to meet its burden of proof “on at least one element of the Howey test.” This is where Deaton and the XRP investors who have made their voices heard in court and play a crucial role.
As Hogan went on to discuss, the SEC must do two things in…
