The lawsuit, which will take place between XRP holders and Ripple lawyers claiming that XRP is a security, is scheduled to be heard today.
The important case between the US Securities and Exchange Commission (SEC) and Ripple Labs is pending summary judgment from the district court. The Zakinov lawsuit, filed by investors claiming XRP to be a security, will take place today. It is thought that the Zakinov case may also affect the case between the SEC and Ripple.
John Deaton Wants to Defend XRP Holders
XRP holders and Ripple lawyers claiming that XRP is a security are preparing for the hearing that will take place on April 26, 2023.
According to the details, the court hearing will take place around the question of documenting the class of XRP holders suing Ripple. Attorney John Deaton, a prominent figure in the Ripple and SEC litigation, requested permission to present a summary in the Zakinov case. Deaton aims to defend the more than 75,000 XRP holders who believe that XRP is not a security. However, Deaton’s request has not yet been decided.
Lawyer Deaton reported that the judge opened online access to nearly 500 members of the public. He added that the trial will be online, unlike the LBRY and SEC trial, as the judge did not allow John Deaton to participate in the oral discussion. The lawyer stated that this is a long standing rule of the court.
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