Attorney John Deaton has filed a notice to represent tech journalist Naomi Brockwell as Amici Curiae in the SEC v. LBRY appeal.
John Deaton, the founder of Crypto-Law.US, has filed a motion to participate in the SEC v. LBRY lawsuit as an Amicus Curiae counsel.
According to a filing dated September 14, Attorney Deaton filed a notice of appearance to represent tech journalist Naomi Brockwell as Amicus Curiae in the LBRY lawsuit.
The development was shared yesterday on the X platform by seasoned lawyer James K. Filan.
— James K. Filan 🇺🇸🇮🇪 (@FilanLaw) September 14, 2023
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SEC v. LBRY Case
For context, the U.S. SEC charged LBRY in 2022 with raising over $12 million by illegally selling LBRY Credit (LBC) as unregistered securities.
The regulators claimed that LBRY conducted the illegal offering for nearly five years, from 2016 to 2021. After an intense legal tussle that lasted over a year, a federal district court issued the highly-anticipated final judgment in July 2023.
Notably, the SEC received a total victory, as SEC was found to have violated federal securities laws via its sale of LBC.
LBRY, which initially indicated plans to shut down its operation, made a surprise move earlier this month by filing an intent to appeal the district court’s ruling.
With the case heading to appeal, Attorney Deaton has filed a notice of appearance to represent Brockwell.
Deaton’s Previous Involvement in LBRY Lawsuit
It is worth noting that Deaton had previously represented Brockwell in the case.
In December 2022, Attorney Deaton filed a similar motion to represent the tech journalist as Amicus Curiae. His participation in the lawsuit played a role in convincing the judge that LBC’s secondary market sales do not constitute securities.
Attorney Deaton argued that the SEC’s injunction request is broad, emphasizing that the regulator did not distinguish between LBC sales made by the LBRY team and users.
Following Deaton’s position on the matter, the judge noted that he was not inclined to grant the SEC’s injunction request. Furthermore, Deaton said he also got the SEC to concede in court that LBC secondary market sales are not securities.
Deaton’s Role in SEC v. Ripple
Notably, Attorney Deaton has continued to show his relevance in crypto-related litigations. XRP community members also felt his efforts in the SEC v. Ripple case. Attorney Deaton filed an Amicus Curiae brief to represent thousands of XRP holders in the lawsuit.
Recall that Judge Analisa Torres ruled that Ripple’s programmatic sales of XRP do not violate securities laws. She arrived at the decision by citing 3K affidavits submitted by Ripple in support of its defense.
Interestingly, Attorney Deaton collected the affidavits during the early phase of the legal tussle.