Ripple has been in the middle of a complex legislative gap: are its XRP tokens titles or not? As investors try to prove that he is and sue the company, Ripple is fighting to prove that they are not. small, but important victory over this matter.
Many parties have sued Ripple right now and the company has pushed them to unite all these class action actions or at least coordinate them and limit the number of cases it is fighting.
This week, the California Superior Court case filed by David Oconer, another dissatisfied investor, was formally determined to be a "complex litigation." Does this mean? It means that the seed will not be coordinated with the others. This follows another filed suit of California by Vladi Zakinov, which was also considered complex a few months ago.
All of this can be considered a victory because the California courts decide that the requirement for a case to be considered a complex designation is that it must involve security demands and losses involving many parties. This is great for Ripple because a single judge will oversee all cases in an attempt to prevent different results for cases.
The Oconer case is now assigned to Judge Marie Weiner, who was successfully moved by Ripple to disqualify from presiding over the Zakinov case. At the moment, it is not yet clear if the company will try to do it again. Ripple archived to coordinate actions at the start of this month as it claimed that both actions had the same object and involve the same parties.
Another class case filed by the investor Ryan Coffey was archived by the investor last week. After trying to move the case to a lower court after Ripple took him to a higher one, the investor decided to give up.
The War Is Not Won Yet
However, note that Ripple is all but safe. While all cases start to be coordinated in one, Ripple could simply lose the cases. Moreover, there is a constant risk that the US Securities Exchange Commission (SEC) will determine that XRP tokens are a security, which can also bring a world of problems to society.