XRP Holders Can't Intervene In SEC's Ripple Suit

By Dean Seal (October 4, 2021, 6:43 PM EDT) -- A New York federal judge ruled Monday that purchasers of Ripple Labs Inc.'s signature digital asset, XRP, could not intervene in the company's closely watched legal battle with the U.S. Securities and Exchange Commission.

U.S. District Judge Analisa Torres said in an order that Jordan Deaton and five other XRP holders could file "friends of the court" briefs in the case given that they, like Ripple, are also pushing for a finding that XRP does not implicate securities laws.

But allowing them to join the case as defendants would be to, in effect, "compel the SEC to take an enforcement action...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!