(l-r) U.S. Ninth Circuit judges Mary Margaret McKeown, Lucy Koh, and Anthony Johnstone. Photos: ALM Coinbase Scores Arbitration Win Under New Federal Precedent
"In the time since the plaintiff filed his complaint, nearly two years have passed," a Coinbase spokesperson said in a statement. "During this time, he could have gone to arbitration and obtained a decision on the merits."
October 25, 2024 at 03:31 PM
4 minute read
What You Need to Know
- The U.S. Court of Appeals for the Ninth Circuit ruled in favor of Coinbase Global Inc. in a case involving a class action in excess of $5 million.
- The ruling clarified a precedent set by the Supreme Court in Forrest v. Spizzirri.
- The plaintiffs' attorney, Frederick Rispoli at Hodl Law, disagreed with the ruling.
In entering a ruling this week in favor of Coinbase Global Inc. involving a class action in excess of $5 million, the U.S. Court of Appeals for the Ninth Circuit clarified a recent U.S. Supreme Court precedent finding that when a party requests a stay in a dispute subject to arbitration, the district court has no discretion to deny it.
Steven Ragland, a partner and associate general counsel at Keker, Van Nest & Peters, represents the defendant, Coinbase, in a case that the plaintiffs, Dallas Woody and Peter Hrehorovich, appealed to the U.S. District Court for the Northern District of California over its ruling compelling arbitration.
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