Judge rules XRP class action can proceed

A lawsuit alleging Ripple's violation of securities laws has been ruled to allow it to proceed. In Wednesday's ruling, U.S. District Court Judge Phyllis Hamilton of the Northern District of California allowed XRP retail buyers to file a class action lawsuit. Hamilton said the lawsuit could include claims under federal law, but dismissed some claims under California law. She added that the plaintiff could resubmit certain claims under California law through a revised complaint within 28 days. The plaintiffs included Bradley Sostack, XRP's former investor, and the defendants included Ripple, its XRP II subsidiary, and Ripple CEO Brad Garlinghouse. Ripple's previous argument was that the plaintiff filed his complaint after the end of the legal period. However, Hamilton said that this did not hinder the lawsuit itself and noted the requirements under federal law.