Judge rejects class certification in $400M Mt Gox fraud lawsuit

[ad_1] A federal judge has rejected a bid for class certification from clients of the defunct Japanese Bitcoin exchange Mt. Gox, which was forced into bankruptcy in 2014 following a major hack. Judge Gary Feinerman made the declaration in the U.S. District Court for the Northern District of Illinois on Tuesday, June 22 saying it would require 30,000 “mini-trials” to find otherwise. The move handed a victory to former Mt. Gox CEO Mark Karpeles, who has argued that a compensation plan in Japan would serve better than litigation in the…

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Judge Grants Access to SEC Internal Records on Bitcoin, Ether, XRP – Regulation Bitcoin News

[ad_1] Ripple Labs has reportedly won discovery from the U.S. Securities and Exchange Commission (SEC). The court has ordered the commission to produce internal records relating to discussions of whether XRP tokens are similar to bitcoin and ether, which are currently not classified as securities. Ripple Wins Discovery From SEC, Gaining Access to the Commission’s Internal Crypto Records A telephonic discovery conference was held Tuesday for the case against Ripple Labs brought by the U.S. SEC. Ripple Labs reportedly “won discovery” from the SEC. U.S. Magistrate Judge Sarah Netburn said,…

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US Judge Orders Both Parties from the XRP Lawsuit to Hold a Discovery Conference – Regulation Bitcoin News

[ad_1] In a fresh twist to the Securities and Exchange Commission (SEC)’s fight against Ripple Labs, US judge Sarah Netburn has directed both parties to hold “a telephonic discovery conference on Tuesday, April 6, 2021.” The judge’s order directs the parties to discuss a motion to compel filed by Ripple’s lawyers. Motion to Compel On March 15, lawyers representing current Ripple Labs CEO Brad Garlinghouse and Christian Larsen had asked Judge Netburn to compel the SEC to produce documents relating to the regulator’s lawsuit against the fintech firm. In their…

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