Judge Denies Effort to Move XRP Investor Lawsuit to Lower Court
The US District Court denied investors' efforts to move a lawsuit against a paying company ripple to a lower court.
Northern California District Judge Phyllis Hamilton denied Rick Coffey's claim to return the lawsuit against Ripple Lab and its affiliates to the San Francisco Superior Court. .
Coffey sued Ripple earlier this year, arguing that XRP cryptocurrency was company controlled and issued security.
Coffey insisted that "cases arising under the Securities Act can be brought to the State Court and can not be removed from the State Court".
Hamilton, however, does not necessarily follow the precedents and rules Coffey mentioned, and federal courts pointed out that the XRP could replace the state court, regardless of whether or not it was a "nationwide" nature of class action.
Ripple uses the same argument in another attempt to move the case to a different location. According to a legal document filed last Wednesday, the company sued earlier this month to withdraw the lawsuit filed by investor Avner Greenwald. The lawsuit has been filed as previously reported in San Mateo's Superior Court, but Ripple tries to sue this case in northern California, again referring to the "national" nature of the California Code of Conduct and the claim that damage may occur. Exceeding $ 5 million
Coffey and Greenwald want to combine the two while addressing the "move to relate" the suit. If the two cases are carried out separately, he argued, "If there is a case, the duplication of labor and cost and the result will be in conflict." It was done before other judges. "
Lawyer Jake Chervinsky said Wednesday that he would integrate the two cases through Twitter.
The San Francisco-based company filed suit last weekend to tune up the lawsuit filed by Vladi Zakinov and David Oconer last weekend, pointing out that the lawsuit contained the same issues as Greenwald.
According to the California court website, you can "join a court" if you get the approval.
The plaintiff has the opportunity to respond to consent before the judge considers it.
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