US District Court for California: Investors sues Ripple too late

On December 4, Ripple filed in the US District Court for the Northern District of California, stating that even if XRP is a security, it is too late for investors to sue Ripple and cannot proceed. The initial claims were contradictory. The document reiterated Ripple's earlier motion to dismiss the case: the amended pleading filed in August missed the legal time limit for filing a claim after the incident; the lead plaintiff has still failed to prove he was in the hands of any defendant XRP was purchased; XRP was in conflict with the plaintiff's claim under the California Consumer Protection Act. As a result, Ripple has once again avoided the most important question raised by the case for the digital asset industry, namely whether XRP is a security under US law. The document is the final document before the parties will debate the motion of removal in court next month, and the parties will begin their hearing on January 15, 2020. Earlier in the news, XRP investors have filed a new lawsuit against Ripple, which proves that Ripple illegally sold unregistered securities based on relevant content in the digital asset framework proposed by the US Securities and Exchange Commission.