Florida class action lawsuit alleges Ripple violated securities laws
Already facing a suit from the U.S. SEC, Ripple is now accused of violating securities laws in Florida. Ripple Labs, a company behind the Ripple payment protocol and XRP-based products, is facing another lawsuit alleging the firm violated securities laws in the United States.According to a Jan. 25 court filing, Florida-based XRP investor Tyler Toomey has filed a civil suit against Ripple Labs and Ripple CEO Brad Garlinghouse. The lawsuit alleges that the defendants failed to comply with Florida securities laws by failing to register with the Florida Office of Financial Regulation.Toomey....
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Another class-action lawsuit has been filed against Ripple Labs and CEO Brad Garlinghouse. This lawsuit follows the one filed by the U.S. Securities and Exchange Commission (SEC) alleging that the defendants sold XRP, which it considers unregistered security, for over $1.38 billion. The lawsuit, filed Monday in a Florida district court alleges that the “sale of XRP cryptocurrency tokens to Florida residents” violates Florida securities laws. The suit names Ripple Lab Inc., XRP II LLC, and Garlinghouse as the defendants. They have allegedly sold “millions of dollars (or....
Despite filing fees of more than $400, a Ripple investor has launch legal action over a $48 loss. What's going on? The Ripple community is at a loss to explain the motivation behind a class-action lawsuit filed by Florida man Tyler Toomey against Ripple Labs and Ripple CEO Brad Garlinghouse over a $48.56 loss.In November 2020, Toomey purchased 135 XRP tokens at $0.724 each for a total value of $97.80. Following news of another lawsuit against Ripple in Dec that year, Toomey sold his investment for $49.24, suffering a loss of almost 50%. He’s now launched a class action costing eight times....
Two Florida law firms have filed a class action lawsuit in US district court against digital currency exchange Cryptsy and its CEO, Paul Vernon. Filed in the US District Court for the Southern District of Florida on 13th January, the case alleges negligence, unjust enrichment, conversion and violation of Florida’s Deceptive and Unfair Trade Practices Act. The lawsuit was filed by Jinyao Liu, a Cryptsy customer based in Virginia. Liu, in addition to other members of the class, is being represented by Wites & Kapetan, PA and the Silver Law Group, the latter of which filed suit in state court....
A class-action lawsuit against Binance US has been filed in California that alleges the exchange misled investors and sold unregistered securities to roughly 2,000 plaintiffs. The case was filed by the law firm Roche Freedman LLP, a company known for high-profile crypto lawsuits during the last few years. The lawsuit accuses Binance US of marketing terrausd (UST) as a firmly fixed stablecoin tied to the value of the U.S. dollar.
Class-Action Lawsuit Filed Against Binance US Over the Terra UST Collapse — 2,000 Plaintiffs Say They Were Misled by the Exchange
On Monday, the....
Ripple partner MoneyGram alleging the firm issued misleading statements and failed to disclose XRP's status as an unlicensed security. Payments company MoneyGram International has been sued over alleged false statements, made regarding its partnership with Ripple Labs and their XRP cryptocurrency.The class action lawsuit, filed on March 1 in California, was submitted on behalf of investors who purchased securities from MoneyGram between June 17, 2019, and February 22, 2021. The global investor rights legal practice assert MoneyGram made fraudulent statements regarding its partnership with....