In a significant development for XRP investors, federal judge Phyllis J. Hamilton from the United States District Court for the Northern District of California has certified a class of investors in the class-action lawsuit Zakinov vs. Ripple Labs Inc. The lead plaintiff alleges that Ripple violated federal and state laws by failing to register its digital asset, XRP, as a security.
The judge’s order enables tens of thousands of XRP purchasers to assert their securities claims against Ripple, its subsidiary XRP II, and CEO Bradley Garlinghouse as part of the class. As Bitcoinist reported, the last hearing in the XRP investor class action lawsuit against Ripple took place two months ago.
Lead plaintiff Bradley Sostack, filed a motion to form a class consisting of all XRP owners worldwide who bought and now hold XRP or sold XRP at a loss.
What The Ruling Means For Ripple And XRP Investors
U.S. Senior District Judge Phyllis Hamilton, overseeing the litigation, issued the class certificat
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