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Ripple Labs is <a href="https://twitter.com/sentosumosaba/status/1742928149263057384" rel="noopener noreferrer nofollow">approaching</a> a significant milestone in the case of Zakinov v. Ripple Labs Inc., with a critical court <a href="https://www.cand.uscourts.gov/judges/hamilton-phyllis-j-pjh/" rel="noopener noreferrer nofollow">hearing</a> scheduled on Jan. 11.&nbsp;
This session will address the class action suit's motion to approve the form and manner of class notice.&nbsp;
<h2 id="obtaining-class-status">Obtaining class status</h2>
In the previous year, a significant development unfolded as XRP investors were granted class status in the securities lawsuit stipulated by Zakinov v. Ripple Labs.&nbsp;
Judge Phyllis J. Hamilton confirmed the class met the necessary requirements for certification, setting the stage for a class action that alleges Ripple sold XRP as an unregistered security. It is worth noting that Ripple scored a partial victory against the U.S. Securities and Exchange Commission last year, with the court recognizing that secondary XRP sales did not qualify as investment contracts. &nbsp;&nbsp;
Ripple's counterarguments, which have stressed concerns over the adequacy of class representation and individual claim defenses, were overruled.&nbsp;
The case, which is spearheaded by lead plaintiff Bradley Sostack, has consolidated three separate lawsuits under its umbrella, including Zakinov, Oconer, and Greenwald.
The trial has already been <a href="https://twitter.com/Leerzeit/status/1711626245128040455" rel="noopener noreferrer nofollow">postponed</a> seven times, and it is expected to take place later this year.&nbsp;
&nbsp;
<h2 id="kraken-s-involvement">Kraken's involvement&nbsp;</h2>
As <a href="https://u.today/ripples-courtroom-drama-escalates-with-krakens-latest-move" rel="noopener noreferrer nofollow">reported by U.Today</a>, Kraken, a significant cryptocurrency exchange, recently took a bold step by filing a motion to intervene in the ongoing legal dispute between Ripple and its plaintiffs.&nbsp;
This move follows an order mandating U.S. exchanges to release private customer trading data, bringing the issue of client privacy to the forefront.&nbsp;

Ripple Nearing Pivotal Court Date

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