Ripple Labs Accused Of 'Word Games' In $175M Stock Row
Law360 (February 17, 2021, 9:20 PM EST) -- Ripple Labs Inc. was accused Wednesday of using "word games" in an attempt to duck investor Tetragon's bid for the Delaware Chancery Court to halt its cryptocurrency transactions until it buys back Tetragon's $175 million stock.
During a virtual hearing on its bid for a court injunction, Tetragon Financial Group Ltd.'s counsel told Vice Chancellor Morgan T. Zurn that Ripple is misstating terms of a 2019 shareholders' agreement that defines what triggers the California-based blockchain company's obligation to redeem Tetragon's stock.
In its injunction bid, the U.K.-based Tetragon is seeking to have the court bar Ripple from "using its legally available...
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