A new hearing in the class action lawsuit filed against Ripple Labs referred to as Zakinov v. Ripple, is set to take place on April 26 in the United States District Court for the Central District of California.
According to the allegations made in the class action complaint, Ripple Labs participated in an unlawful securities offering of the XRP cryptocurrency, which resulted in investors suffering losses.
In a separate but related incident, a petition for permission to submit an amicus brief on behalf of nearly 75,000 XRP holders was submitted by an attorney named John E. Deaton.
The certification of the class of XRP holders who are suing Ripple will, however, be the primary focus of the oral arguments presented at the hearing.
As a result of their belief that the outcome of the case may have a significant effect on their holdings, the goal of this motion is to make sure that the court hears their views.