Efforts by Ripple to unify several lawsuits brought against it have been crowned with some success. This is written by CoinDesk.
Recently, several lawsuits have been filed against Ripple, claiming that the XRP token, which the company uses in some of its products, is a security. Now Ripple is trying to unite or even reconcile different group suits with each other so that it does not have to fight on several legal fronts.
On Wednesday, a lawsuit filed by David Oconer in the Supreme Court of California was officially called a “complex trial” – which means that now it will be coordinated with other claims.
Shortly before that, in June 2018, another California claim was filed, filed by investor Vlad Zakinov.
According to the court rules of California, one of the requirements for the claim to be complex is the presence in the claim of a “claim for securities or investment losses involving several parties.” Now all the processes related to this case will be monitored by one judge to prevent duplicate actions and different results in different suits.
However, one of the consequences of Okoner’s actions was that the judge Marie Wiener was appointed to this case, which Ripple was able to withdraw from the lawsuit of Zakinov. Whether Ripple will try to remove this judge from a new trial is unclear.
Ripple asked for the approval of the lawsuits of Zakinov and Oconer in August 2018, stating that both these class actions “are entirely or solely related to the same matter” and concern “the same or almost the same parties.”
Another group claim was voluntarily revoked by the plaintiff himself – investor Ryan Coffey. The trial of this case was not postponed without the participation of Ripple in the District Court of the Northern District of California, although Coffey tried to transfer him back to the lower court. After his request was rejected, he decided to withdraw his claim voluntarily.