SEC vs. Ripple: The 'amici curiae' brawl came to life just because...
Firstly, the filing targeted the SEC’s unlawful expansion of the Howey test as the token represented a “security per se”. This theory has been an issue since the very beginning, as per Deaton. Ergo, the SEC itself is to blameAccording to attorney Deaton, before he disclosed the SEC’s expert’s name, the parties in the lawsuit – had before it filed its motion. In this context, Deaton added,
“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.In addition, the said attorney blasted the SEC for taking the opposite stance regarding the Expert’s reports. Thus, asserting, “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 lawOverall, Plaintiff remains hellbent on revoking Amici’s rights in the lawsuit because the summary judgment filing date approached nearby.Indeed, the SEC aimed to remove Deaton from the case- there’s no denying it.
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