Over 70,000 Holders Have Joined The Class-Action Lawsuit Against The SEC, Victory Is Ascertained For Ripple

As stated by the attorney John Deaton, over 70,000 XRP holders have joined the class action lawsuit against the SEC.

The update was brought on the official Twitter handle of John Deaton, the attorney in charge of the Amici Status and founder law firm CryptoLaw and XRP holder representative, those seven holders who joined the cause back in 2021 January has turned into over 70,000.

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The Deaton was anticipating victory over Gary Gensler and SEC director as over 70K XRP holders from diverse backgrounds from all 50 states, every U.S. territory, and 141 Countries around the have joined together to fight their unlawful expansion.

It is not new that the case is an extension of the ongoing case between Ripple and the SEC. it all happens when the SEC termed Ripple’s token, XRP security which has attracted a lot of instant feedback from Ripple proponents including the Ripple executives and the current CEO, Brad Garlinhouse.

However, those that the matter was known to have noted that the process has migrated into the “dirty” stage as the parties trying all the possible to force their opponent.

SEC’s Motion To Revoke The Amici Status Was Denied

The SEC‘s request to revoke the amici status of XRP holders has been denied by Magistrate Judge Sarah Netburn and therefore came as a hit to the agency.

The amici curiae status was gotten by Ripple via the attempt of a group of XRP holders led by the attorney John Deaton in 2021 March.