Odaily Planet Daily News: Certain class action lawsuits against Ripple and its CEO Brad Garlinghouse are entering the final judgment stage, which may contribute to its ongoing lawsuit against the US SEC.
On Thursday, Judge Phyllis Hamilton approved the final verdict on the resolved class action lawsuit and ordered the suspension of the remaining unresolved lawsuits. This decision shortened the duration of the class action lawsuit and paved the way for the trial to begin on January 21, 2025.
The plaintiffs in the class action lawsuit argue that Ripple violated federal and California securities laws by selling XRP without registration between 2017 and 2023.
Analysis suggests that the final verdict in this case may have a ripple effect on similar lawsuits filed by the SEC in 2020. Specifically, a favorable ruling for Ripple could greatly assist it in combating SEC allegations of violating federal securities laws.
