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Ripple vs. SEC: Attorney John Deaton Blasts SEC To Revoke His Amici Status And To Bar Him From Participating in Lawsuit

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Ripple vs. SEC: Attorney John Deaton Blasts SEC in His Quest to Participate in Upcoming Daubert Challenge.


Amici Curiae has filed a response to the Securities and Exchange Commission’s opposition to its motion to participate in the upcoming Daubert challenge.

The letter comes a week after the SEC requested that the court deny Amici’s motion to participate in the lawsuit and to bar Amici’s lawyer, attorney John Deaton, for gross misconduct. 

Recall that the SEC had previously requested the court revoke attorney Deaton’s Amici status in the lawsuit for publicizing the name of one of its experts. 

The SEC noted that Deaton’s action resulted in a series of threats and embarrassment to the expert. Thus prompting the SEC to request the sealing of identifying information of its other experts to prevent a recurrence. 

Attorney Deaton’s Response

In Amici’s response to the SEC’s objection to its motion to participate in the upcoming Daubert challenge, attorney Deaton defended his actions by discussing key issues related to the case. 

According to attorney Deaton, before he disclosed the SEC’s expert’s name, the parties in the lawsuit – Ripple and SEC – had previously identified another SEC witness before it filed its motion. 

“I never anticipated the issues with the second SEC expert, nor should I have been expected to, particularly given the release of the other expert’s identity by the parties,” attorney Deaton said. 

The attorney representing Amici Curiae also added that he publicly denounced himself from all threats and harassment targeting the SEC expert. 

Deaton: SEC’s Continuous Double Standard

Attorney Deaton blasted the SEC for taking a hypocritical stance regarding the Expert’s reports. Per Deaton, the SEC had previously given the same expert report to some XRP holders, who sued Ripple, alleging XRP sales violated U.S. securities law. 

The SEC willingly gave the expert report to the XRP holders because its position is aligned with theirs, Deaton added. 

“The SEC’s diametrically opposed legal positions are consistent with Judge Netburn’s harsh but accurate observation that the SEC is adopting its litigation positions to further its desired goal, and not out of a faithful allegiance to the law,” attorney Deaton said. 

SEC Using Unconventional Methods to Dismiss Amici, Deaton Says

Attorney Deaton further accused the SEC of engaging in character assassination to achieve its aim of revoking Amici’s status and barring him from participating in the lawsuit.

He noted that the SEC is bent on revoking Amici’s rights in the lawsuit because summary judgment filing is around the corner. 

In its quest to revoke Amici’s right, the SEC had been recycling materials previously known to the court before Amici’s status was granted, attorney Deaton added. 

Attorney Deaton Adds Hinman’s Conflict of Interest in His Response

Meanwhile, attorney Deaton took a shot at William Hinman, the former director of SEC’s Corporate Finance. The Amici Curiae attorney discussed Hinman’s conflict of interest during his time at the SEC. 

Recall that Empower Oversight shared information about how Hinman blatantly ignored a direct command from the Ethics office not to have a meeting with his Ethereum-related Simpson Thatcher

As expected, attorney Deaton’s response to the SEC has attracted a lot of reactions from the Ripple community. 

Attorney Jeremy Hogan, a partner at Hogan & Hogan law firm, praising Deaton, said: “Att’y Deaton’s response might be my FAVORITE brief in the Ripple case so far. It defends his position in the case, defends his own actions, attacks the SEC, and attacks the SEC expert, all in four pages. AND also happens to spill on Hinman and his “relation” to Ethereum. BRAVO!”

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Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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