Ripple class action lawsuit enters final judgment phase, which may help it deal with ongoing litigation with SEC

Odaily Planet Daily News: Certain class actions against Ripple and its CEO Brad Garlinghouse are entering the final judgment stage, which may help their ongoing litigation against the US SEC. On Thursday, Judge Phyllis Hamilton approved the final judgment of the settled class actions and ordered the suspension of the remaining unresolved lawsuits. This decision shortens the time of the class action and paves the way for the trial to begin on January 21, 2025. The plaintiffs in the class action argued that Ripple violated federal and California securities laws by selling XRP without registration between 2017 and 2023. Analysis pointed out that the final judgment in this case may have a chain reaction on similar lawsuits filed by the SEC in 2020. Specifically, a ruling in favor of Ripple may greatly help it fight the SEC's allegations that it has violated federal securities laws.