Zakinov v. Ripple Labs: Ripple’s motion to dismiss taken under submission

by | Jan 15, 2020

Today was the hearing of Ripple’s motion to dismiss the Zakinov et al v. Ripple et al lawsuit.

Brief history of the lawsuit

Three seperate lawsuits (Zakinov, Oconer and Greenwald) were all related into one back in October 2018. After that, the class action was moved to Federal court from the San Mateo Superior Court a few weeks later. By June 2019, a new lead plaintiff was named in the class action lawsuit: Bradley Sostack. The plaintiffs then filled an amendent complaint and Ripple then filled a motion to dismiss the case, stating that the plaintiff failed to bring a case within three years of the initial offering, meaning the statute of repose expired. 

Matter under submission

Both parties appeared before the court today at 9 AM Pacific Time and according to a document uploaded on the docket, the matter has been taken under submission, meaning that the honourable Judge Phyllis J Hamilton will announce her decision at a later date.

We would like to thank fellow XRP community member Hector Acosta Carrillo for sharing that document with us.

If you want to support XRParcade or help us run an XRPL validator, you can become a Patron on our Patreon group.