John Deaton, an attorney representing several token holders in the Ripple-Securities and Exchange Commission (SEC) lawsuit, has formally filed his notice of appearance as an Amicus Curiae in the LBRY litigation.
According to a document filed with the United States Court of Appeals for the First Circuit on September 14, 2023, Deaton has officially filed his Notice of Appearance on behalf of amicus curiae Naomi Brockwell.
Referring to his submission, Deaton said in a post on X (formerly known as Twitter),
“Win, lose, or draw, we will be in the fight!”
Notably, in collaboration with Deaton, Naomi Brockwell is the founder of Crypto Law, a platform dedicated to providing insights and updates on legal and regulatory developments related to cryptocurrencies in the United States.
The attorney is well-known for his advocacy for the rights of cryptocurrency investors, as well as his active participation in legal proceedings and discussions regarding cryptocurrency regulations and legal actions.
The United States Securities and Exchange Commission filed a lawsuit against LBRY in March 2021, alleging that the company unlawfully sold LBC tokens without registering with the agency as required by law.
LBRY filed a notice of appeal with the United States Court of Appeals for the First Circuit on September 7 to overturn the final judgment issued on July 11 that ordered LBRY to pay a civil penalty and barred it from future unregistered offerings of crypto asset securities.
In July 2023, the United States District Court for the District of New Hampshire issued the definitive judgment in the US SEC vs. LBRY lawsuit. According to the ruling, LBRY was responsible for violating Section 5 of the Securities Act 1933.
The outcome of the LBRY case could have implications for the XRP case. On July 14, 2023, U.S. District Judge Analisa Torres issued a summary judgment in favor of Ripple, ruling that selling XRP tokens to retail buyers did not comprise the sale of securities.
