Federal Court Dismisses Investors’ Claims against Ripple Regarding XRP

2020-7-31 16:41

Coinspeaker
Federal Court Dismisses Investors’ Claims against Ripple Regarding XRP

The Northern California District Court findings released online in the last 24 hours by Law360 state that claims regarding Ripple and the XRP token made by two investors cannot be proven.

The case was concerning the on-going legal dispute which began in May 2018 between Ripple Labs including CEO Brad Garlinghouse and disgruntled investors as to whether the native token XRP is, or is not a security by legal definition. They claim that Ripple should have made a formal application to the U.S. Securities Exchange Commission (SEC) for their cryptocurrency XRP to become a security.

The company has been consistently adamant of the latter because of any direct connection between the company Ripple and their token XRP, maintaining innocent on any legal wrong-doing during the course of this claim.

Court Findings

In the case, the court found that the lead plaintiff failed to provide the necessary evidence in the courtroom to support multiple claims regarding XRP’s non-security status, Brad Garlinghouse’s personal holdings and monetary intentions, XRP’s sale strategy, as well as the company’s software products.

The court file concluded that all of these accusations were “purported misstatements” and that “in short, Plaintiff fails to offer the factual allegations needed to show that Ripple and Mr. Garlinghouse’s statements were false when made”.

Ripple’s Legal Team added that all outstanding fraud claims were “unsupported leaps of logic.” In June 2019, they applied for a court dismissal against the mentioned plaintiffs. The latter responded with opposition to the motion claiming to hold over “a dozen false or misleading statements made by Ripple and its CEO.”

The court hearing has today dismissed all of these statements as false. The impact that will have for the future of Ripple as a company and a legal entity, as well as XRP, is perhaps more propitious than before.

Federal Court Dismisses Investors’ Claims against Ripple Regarding XRP

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against ripple claims regarding investors court dismisses

Источник: coinspeaker.com

against ripple → Результатов: 126


Фото:

Introduction of the new ripple based alternatives in San Francisco

A new Ripple (XRP)-based decentralized crypto marketplace, DCEX, has now opened registration for retail and institutional accounts, according to a press release published July 30. The new San Francisco-based platform runs on technology developed by blockchain firm AlphaPoint, and will initially offer 15 crypto-crypto trading pairs, all against Ripple as a base currency. These include

2018-7-31 18:45


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In emerging markets, it’s the people — many times children — who have the cards stacked against them, whether it’s being left behind by the current financial, education or healthcare systems. That’s why, today, we’re excited to kickstart a month-long campaign in partnership with non-profit Raising Malawi to raise funds for orphans and vulnerable children … Continued The post Ripple and Raising Malawi Launch Campaign to Sponsor Children in Need appeared first on Ripple.

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