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Judge Allows US XRP Investors To Pursue Securities Claims
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. This article explores the details of the case, the implications for XRP investors, and the broader significance of the court’s decision.
Background of the Lawsuit
The Zakinov vs. Ripple Labs Inc. class-action lawsuit revolves around the classification of XRP, the digital asset associated with Ripple. The lead plaintiff, Bradley Sostack, accuses Ripple of failing to register XRP as a security, which, if true, would constitute a violation of federal and state securities laws. The lawsuit raises important questions regarding the regulatory status of cryptocurrencies and the obligations of companies issuing digital assets.
Judge’s Certification of the Class
Federal judge Phyllis J. Hamilton’s recent order certifying a class of investors in the lawsuit has significant implications for XRP holders. This certification allows tens of thousands of XRP purchasers…
