Accused of market manipulation the company Ripple has achieved the unification of the two class actions investors
The California Supreme court has consolidated the two class action against Ripple, accused of violating the law in the field of securities and manipulation in the market that can be considered a small interim victory of advocates of the company. This writes Coindesk.
In August, the defense asked Ripple on the harmonization of the claims of Vladi Zakirova and David Oconer, arguing that the fact that both charges relate to “the same or nearly the same parties.”
According to the court rules of California, the lawsuit can be classified as a complex case if it contains claims for securities or investment losses.
Now the petition of lawyers was granted and two cases against Ripple, called “complex litigation” will be considered by a single judge.
It is noteworthy that the consideration of the claim of David Oconer will judge Marie Weiner, the removal of which from the case of Vladi Zakirova Ripple had made earlier. It is still unknown whether the company’s representatives to insist on the appointment of a new judge.
In conjunction with the may to July against Ripple was filed three lawsuits. The first of these was initiated by the investor Ryan Coffey, who filed a collective complaint on behalf of purchasers token XRP. According to his statement, the company held the “infinite ICO” and manipulated the price of XRP. However, in August, the court denied the plaintiff’s motion, after which Coffey decided to voluntarily withdraw his complaint.
In June, a California court applied the investor Vlad Sakinaw with the complaint that Ripple XRP is not registered before the start of sales as a valuable paper. A month later, the third plaintiff, David Oconer accused the company of deliberately inflating coin prices.