Ripple’s lawsuits becoming increasingly consolidated

31 Aug, 2018
by Ryan McInally
News
Ripple’s lawsuits becoming increasingly consolidated

As Chepicap previously reported, Ripple or XRP is currently dealing with a number of similar lawsuits from previous investors claiming that the coin is a security, and that it was sold to them without the proper authorization. Ripple has tried to consolidate these lawsuits, and those efforts seem to be working.

Ripple filed a motion to coordinate the Zakinov and Oconer suits earlier this month as they believe “all or a material part of the same subject matter' and involve 'all or substantially all of the same parties.'" This is beneficial to Ripple as it limits the amount of cases the company has to fight at one time.

According to a CoinDesk report, a California Superior Court suit filed by XRP investor David Oconer was designated a “complex litigation” meaning that the suit will be combined with other suits. This follows a similar June 2018 case in which investor Vladi Zakinov had his case deemed complex by a California judge.

Under California law, a complex designation is one in which involves “"securities claims or investment losses involving many parties." Given that Ripple is experiencing lawsuits from various investors for relatively the same reason it makes sense to combine the cases as the claimants are making essentially the same case, especially as multiple judges could lead to multiple rulings that could contradict with one another. Thus, an individual could appeal their decision based on the outcome of another claimants decision leading to more court time and legal fees.

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