A former SDNY attorney has indicated an interest in joining Ripple’s legal team in the company’s lawsuit against the Securities and Exchange Commission.
A former SDNY attorney, Douglas Samuel Zolkind, has filed a notice of appearance on behalf of Ripple Labs in the company’s legal tussle against the SEC.
Seasoned lawyer James K. Filan shared the development in a tweet yesterday. The motion was filed yesterday in the Southern District of New York (SDNY).
#XRPCommunity #SECGov v. #Ripple #XRP Douglas Zolkind of Debevoise & Plimpton has filed an appearance on behalf of Ripple Labs. https://t.co/XffY0EYfse
— James K. Filan ???? (@FilanLaw) July 31, 2023
In the motion filed in the Southern District of New York (SDNY) yesterday, Zolkind indicated an interest in being associated with Debevoise & Plimpton LLP, one of the legal firms representing Ripple Labs in the legal battle.
Zolkind Legal Expertise & Experience
Notably, Zolkind is a litigation partner at Debevoise & Plimpton law firm. It bears mentioning that Zolkind is an expert on internal and government investigations and white-collar defenses.
He got his education from the University of Pennsylvania and Cornell Law School. The lawyer majors in defending corporate and individual clients in criminal and regulatory enforcement matters.
Before becoming a litigation partner at Debevoise & Plimpton, Zolkind was an Assistant US Attorney in SDNY.
Notably, he led multiple investigations and prosecutions in cases such as securities offenses, political corruption, foreign bribery, and cybercrime.
Mixed Reaction Trail Zolkind’s Filing
Based on Zolkind’s interesting CV, XRP community members have expressed excitement over his intention to join Ripple’s legal team.
#ripple #XRP Fam this could be good Douglas Zolkind has filed a appearance on behalf of ripple. This lawyer specializes in well check out his bio??????? https://t.co/rKJLgSxjM3 pic.twitter.com/bPwRxxWbb8
— 801_XRP (@801_XRP) July 31, 2023
However, his filing to join Ripple’s legal team also stirred confusion within the XRP community. To clear this confusion, Crypto-Law founder Attorney John Deaton clarified that Zolkind would replace Lisa Zornberg, one of the lawyers who left Ripple’s legal team.
This Attorney is simply replacing Lisa Zornberg, who just left the same firm to become Chief Counsel for the Mayor of NYC. https://t.co/owqf6SshIe
— John E Deaton (@JohnEDeaton1) July 31, 2023
According to reports, New York Mayor Eric Adams appointed Zornberg as Chief Counsel. Consequently, the move left a void in Ripple’s legal team, which Zolkind is attempting to fill.
Zolkind’s Expertise to Boost Ripple’s Defense
Zolkind’s motion to appear on behalf of Ripple comes when the SEC is signaling plans to appeal Judge Analisa Torres’ summary judgment. The SEC has expressed disappointment with the judge’s ruling regarding Ripple’s sales to retail investors.
In the ruling, Judge Torres found that Ripple’s programmatic XRP sales on exchanges are non-security offerings. Several legal experts have speculated that the SEC will appeal her decision on Ripple sales to retail investors.
Furthermore, there is also the possibility of the parties reaching an agreement to settle the lawsuit. As reported, Judge Sarah Netburn ordered the parties to select three dates for a possible settlement conference.
Interestingly, Zolkind’s legal expertise will be useful to Ripple in the lawsuit, irrespective of any option the SEC chooses.
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