Ripple Has Mixed Success in Motion to Dismiss Lawsuit Alleging Securities Fraud
The judge threw out some of the claims in the lawsuit but the case can continue based on others relating to allegedly misleading statements by CEO Brad Garlinghouse.
As expected, the SEC has filed suit against Ripple, saying it violated federal securities laws in selling $1.3 billion in XRP over the past seven years.
Prolonged but fruitless efforts to get regulators on the firm’s side seem to have exhausted Ripple’s patience as it eyes a potential IPO and fights a lawsuit.
Bitcoin continues trading below $24,000 as legal action by the SEC rattles the XRP market.
Blockchain startup Ripple has joined an alliance of almost 1,000 major U.S. companies calling for a calm and fair election.
It would be "advantageous for Ripple to operate in the U.K.,” said Ripple CEO Brad Garlinghouse.
Ripple Labs and CEO Brad Garlinghouse are suing YouTube over allegations that the video streaming giant has failed to police its platform against fake XRP giveaway scams, resulting in monetary damage to users and reputational harm to Ripple.