Ripple Securities Suits Consolidated In Calif. Federal Court

Law360 (May 28, 2020, 9:26 PM EDT) — Two cases against Ripple Labs Inc. that allege the company engaged in an unregistered securities offering of the digital currency XRP were consolidated Thursday by a California federal judge aiming to avoid inconsistencies addressing the “novel and nuanced” questions at play.

Judge Phyllis J. Hamilton of the U.S. District Court for the Northern District of California ordered a case brought by little-known Bitcoin Manipulation Abatement LLC against Ripple and its CEO Bradley Garlinghouse be consolidated with a putative class action led by Bradley Sostack first filed in May 2018 against the same defendants.

BMA filed its suit against Ripple earlier this…

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