Deaton Fights For The XRP Army—Again: New Legal Battle Begins

Key Points

1. John E. Deaton filed a 61-page complaint against William Sarris, accusing him of imposing undisclosed mark-ups of up to 60% on pre-IPO Ripple shares and other private-company equities.

2. The complaint alleges violations of Section 10(b) of the Securities Exchange Act and FINRA Rule 2040, with Linqto's bankruptcy papers acknowledging historical legal failures.

3. Linqto, now led by Dan Siciliano, has secured up to $60 million in debtor-in-possession financing and aims to emerge as a compliant organization amid restructuring efforts.

4. Deaton, known for representing XRP holders in SEC v. Ripple, is advocating for investors who believed they were purchasing legitimate pre-IPO shares of Ripple.

5. At the time of reporting, XRP was trading at $2.42, with market activity showing bullish signals and increased trading volume in Korea.