Law360 (October 5, 2020, 4:07 PM EDT) — A California federal judge has trimmed investors’ claims against cryptocurrency developer Ripple Labs Inc. for the second time, tossing for good two claims that the company and its executives made misleading statements but keeping alive claims that it held an unregistered securities offering.
U.S. District Judge Phyllis J. Hamilton dismissed with prejudice Friday two fraud claims that Ripple and its executives made misleading advertisements and misleading statements about its XRP cryptocurrency.
“The court concludes that further amendment would not salvage plaintiff’s claims to the extent they rest on the subject statements,” Judge Hamilton said.
However, for the second time, the judge denied Ripple’s bid…
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!