Chancery OKs TRO In Ripple Labs Investor Fight

Law360 (January 15, 2021, 4:49 PM EST) -- Delaware's Chancery Court issued a temporary restraining order Friday limiting California-based Ripple Labs Inc.'s cryptocurrency transactions and equity redemptions after investor Tetragon sued to halt any Ripple virtual currency purchases until Tetragon can sell back its stock. 

Vice Chancellor Morgan T. Zurn issued the ruling after arguments on a Tetragon Financial Group Ltd. lawsuit filed Jan. 7 seeking an order preventing Ripple — one of the world's largest virtual currency traders — from buying any additional XRP cryptocurrency or redeeming any other investor's stock ahead of the redemption of Guernsey-based Tetragon's stake.

Tetragon said its complaint and TRO motion were prompted...

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