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

Certain class actions against Ripple and its CEO Brad Garlinghouse are entering final judgment, potentially helping their ongoing lawsuit against the U.S. SEC. On Thursday, Judge Phyllis Hamilton approved final judgment on the settled class actions and ordered a stay on the remaining unresolved actions. The decision shortens the class action and paves the way for the trial to begin on January 21, 2025. The class action plaintiffs argue that Ripple violated federal and California securities laws by selling XRP without registration between 2017 and 2023. Analysis points out that the final judgment in this case could have a ripple effect on a similar lawsuit filed by the SEC in 2020. Specifically, a ruling in favor of Ripple could greatly help it fight the SEC's allegations that it violated federal securities laws.