Lawsuit: Investors Can’t Prove Ripple Knew XRP Had ‘No Utility’

The federal case against Labs has taken an unexpected turn, as the legal team representing the firm and CEO Brad Garlinghouse have argued any statements they made overstating the utility of the XRP token can’t be proven false.

According to court filings obtained by Law360, lawyers for Ripple and Garlinghouse have argued plaintiff and XRP investor Bradley Sostack is unable to prove that Ripple misled investors with bullish claims about XRP and sold the token as an unregistered security. The legal team referred to Sostack’s statements as “unsupported leaps of logic.”

Continue Reading on Coin Telegraph

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

(Excerpt) Read more Here | 2020-07-31 20:27:00
Image credit: source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.