Ripple Can't Duck Securities Claims, Crypto Investors Say

Law360 (November 5, 2019, 10:51 PM EST) -- Ripple Labs must face claims that it engaged in an unregistered securities offering of the cryptocurrency XRP and cannot invoke the Securities Act's statute of repose to “immunize new offerings of unregistered securities,” a proposed class of investors told a California federal court.

In a Monday response to Ripple's motion to dismiss their claims, brought under California and U.S. securities law, the investors said the company did not cite any authority to back its theory that the Securities Act's three-year statute of repose applies in this case.

The suit centers on allegations that Ripple violated the registration requirements of the Securities Act...

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