Even though the fintech startup Ripple won in a recently issued summary judgement, the case is still the subject of speculation and controversy.
Deaton tweeted on July 16 that he thought US District Judge Torres would deny the SEC’s request to appeal.
The conversation between the three began when an XRP supporter claimed Deaton had indicated no one may appeal the judge’s verdict until the ultimate court conclusion.
In response to Deaton’s comments, Fagel remarked that notwithstanding the court’s discretion, an appeal may be filed at any time.
In response to Fagel, Deaton said that he had not meant to imply that an appeal couldn’t be filed before the jury reached a decision. He also said that both sides may file an appeal, but that it won’t happen straight away.
Moreover, the well-known pro-XRP attorney noted, both parties might first seek Judge Torres’ approval of their appeal request before submitting it to the Second Circuit.
Judge Torres may grant the SEC’s motion, but Deaton stressed that he does not believe that to be the case.
According to Deaton, the court would rule against it because she used the Howey elements strictly in her opinion in response to the SEC’s motion for summary judgement.
The attorney claims that Judge Torres applied the Howey test to all of the XRP transactions that the SEC claimed violated securities laws.
The court accepted Howey’s preeminence and applied it in this case. Deaton has come to the conclusion that both sides have the option of submitting a formal application to the court, but that there is no sense in doing so.
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