Defense attorneys from King & Spalding and Debevoise & Plimpton hemmed in the potential global scope of the class by convincing U.S. Senior District Judge Phyllis Hamilton to limit the case to U.S. investors.
July 03, 2023 at 03:52 PM
3 minute read
Litigation editor
A federal judge certified a class of investors in litigation against Ripple Labs Inc. claiming that the cryptocurrency firm violated federal and state laws when it failed to register its XRP coin as a security.
The judge’s order means that potentially tens of thousands of XRP purchasers can assert their securities claims against the San Francisco-based fintech company, as well as its subsidiary XRP II and CEO Bradley Garlinghouse, as part of the class.
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U.S. Senior District Judge Phyllis Hamilton of the Northern District of California. (Photo: Jason Doiy/ALM)
