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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!