2024

Ripple has scored a partial victory in a California court case as Judge Phyllis Hamilton dismissed several claims in the Oakland class-action lawsuit against Ripple, including accusations of selling unregistered securities.&nbsp; 
However, the decision on whether XRP is a security has been left to a jury to decide based on a Howey test. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Win for <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@Ripple</a> in the Oakland class action. Judge grants Ripple's summary judgment motion on federal class claims for unregistered securities as well as the state law securities claims. But these were procedural wins. 1/4 <a href="https://twitter.com/hashtag/xrpholders?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#xrpholders</a> <a href="https://twitter.com/hashtag/xrp?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#xrp</a>— Fred Rispoli (@freddyriz) <a href="https://twitter.com/freddyriz/status/1803873196749525064?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 20, 2024</a>
 </blockquote> 
 </div>
</figure> 
Stu Alderoty, Ripple’s top lawyer, welcomed the decision, saying, “We are glad that the California court has dismissed all the class action claims. The only individual state law claim that has been left will be addressed in the trial” 
In a separate case, Ripple’s CEO Brad Garlinghouse still faces a lawsuit for allegedly selling unregistered securities in 2017. 
However, legal expert Fred Rispoli thinks these cases might be settled out of court. He also pointed out that the question of whether XRP is a security remains unanswered and may need new laws to resolve. 
The court has given both sides until July 8, 2024, to file any requests to keep certain documents private. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/06/21/jeremy-hogan-sec-faces-prolonged-battle-in-ripple-appeal/" target="_blank" rel="noreferrer noopener">Jeremy Hogan: SEC Faces Prolonged Battle in Ripple Appeal</a> 
</blockquote>

California Judge Dismisses Federal Claims in Ripple Lawsuit

The Crypto Times

Other articles published on Jun 21, 2024

Ether and altcoin price outlook positive after SEC drops investigation

This Crypto Trader Makes Bold FLOKI Price Prediction – Next Meme Coin to Explode?

Top Token Giveaways: Participate in top token giveaways today!

Notcoin: Is This the Dip Before the Rip? Technical Indicators Say Maybe

Market Watch: BlockDAG Hits $52.5M in Presale, BONK & Lido DAO See Price Surges

Solana ETF: Could a Canadian approval pave the way for US adoption?

Join our free newsletter for daily crypto updates!