The Northern District Court of California allows XRP investors to collectively pursue securities claims

ChainCatcher news, on June 30, U.S. District Judge Phyllis J. Hamilton of the Northern District of California issued a class certification order in the class action lawsuit filed by Zakinov against Ripple Labs Inc., confirming that U.S. investors have the right to seek legal recourse.

The lead plaintiff claims that Ripple violated federal and state laws by not registering its digital asset XRP as a security. Reports indicate that the judge's order allows tens of thousands of XRP purchasers to file securities claims against Ripple, its subsidiary XRP II, and CEO Bradley Garlinghouse as a class. (source link)