Small Victory For Ripple Against Investors Claiming XRP A Security

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Small Victory For Ripple Against Investors Claiming XRP A Security

Posted on August 30th, 2018 in Altcoin by Ryan Warner

Ripple is, so far, successful in efforts consolidating lawsuits against the company.

Ripple Labs has been facing numerous lawsuits claiming the XRP token is a security. The company has been making pushes to consolidate the various class action lawsuits to limit the number of cases it faces at once.

On Wednesday a suit filed by investor David Oconer was officially designated a "Complex litigation," by a California Superior Court. This means the suit will be coordinated with the remaining suits.

The case has now been given to Judge Marie Weiner, who Ripple Labs pushed to have disqualified from the Zakinov case successfully. It's not clear at this time whether or not Ripple will again move to have Weiner disqualified from the case.

Ryan Coffey, another investor, filed another class action lawsuit but later dismissed it voluntarily after it was moved to the District Court of the Northern District of California and his attempts to move it back to a lower court were rejected.