The U.S. district court in New York has greenlit John E. Deaton (who acts on behalf of the XRP community) to file a request to submit a motion to intervene in the legal battle initiated by the SEC against blockchain giant Ripple Labs and two of its high profile executives: Garlinghouse and Larsen.
The request should be submitted by April 19. In case the plaintiff, the SEC, has any response papers, those must be filed by May 3, according to the order.
The official response of the court will be announced on May 17.
Alex DovbnyaEarlier, U.Today reported that judge Analisa Torres had denied the request from the XRP community to file a motion to intervene in the legal fight between the regulator and the DLT behemoth.
The SEC initiated the lawsuit against Ripple on Dec. 21, accusing the company of selling unregulated securities (referring to the Ripple-affiliated XRP token) since the company was founded.
Legal complaints were filed against Ripple Labs, its cofounder and former chief executive Chris Larsen and current chief Brad Garlinghouse.
Vladislav Sopov
Dan Burgin