Ripple Class-Action moves forward with the plaintiffs starting a new question

Jake Chervinsky, Lawyer at Kobre & Kim LLP, wrote a tweet discussing the latest developments in a class action lawsuit previously filed against Ripple. He explained that the plaintiffs of the class action Ripple filed petitions for trial in a federal court, asking them to return to the state court once again.

At the same time, he said that the plaintiffs claimed that Ripple should pay legal fees by explaining that the removal from the federal court had "no legal or factual basis".

The plaintiffs of Ripple's class action filed petitions for referral to the federal court, asking to return to court (again).

They also say that Ripple should pay their legal fees, saying that the removal to the federal court was "frivolous" and had no "legal or factual basis".

– Jake Chervinsky (@jchervinsky) December 8, 2018

Some time ago, the case was removed from the Federal Court. Ripple's lawyers explained that the plaintiffs do not claim that they do not have information about the nature of the transactions.

On the mother, these lawyers commented:

"However, the plaintiffs claim they were in some way hurt because the Defendants would have been required to register XRP as" security "with the Securities & Exchange Commission (SEC), but they did not."

Chervinsky has also explained in the past the legal situation in which there are currently important blockchain companies. At the same time, he said in August that Ripple is defending four cases in the California courts.

The cases related to Ripple are related to the fact that XRP is a security and in which Ripple violated state and federal law by not registering the digital asset before offering it to the public.

Ripple's ongoing legal action continues to dodge between the state and the federal court.

XRP is the second largest virtual currency on the market after Bitcoin. It has a market capitalization of $ 12.45 billion and each currency can be purchased for $ 0.3. However, the SEC is still investigating whether the currency is a security security or not, since it does not provide any information about XRP, which they did with Bitcoin.