Ripple is no stranger to being slapped with lawsuits. Based on yesterday’s announcement, it appears a fourth Ripple lawsuit is underway as well.
Why? And is the coin suffering on the market because of it?
Ripple Lawsuit #4
On Wednesday, Rosen Law Firm announced that it is investigating Ripple Labs.
Similar to the other lawsuits, the New York-based firm announced that it is looking into whether Ripple violated federal securities laws, specifically in connection with its sale of XRP coins.
Moreover, Rosen Law Firm disclosed that it is preparing a class action lawsuit, one that will recover the losses suffered by those who bought XRP tokens.
What Does Ripple Have to Say?
So far, no one from Ripple Labs has commented on the latest Ripple lawsuit from Rosen Law Firm.
However, CEO Brad Garlinghouse has made it clear—multiple times, in fact—that XRP is different from Ripple, the company. He even said a few months ago that if Ripple Labs were to shut down, the XRP ledger would still be operating. Knowing that, some may wonder about the grounds of these investigations.
Ripple Price Today
Despite the coin being in the green Thursday, some are claiming that XRP is en-route to experience more declines.
At press time, XRP is selling for $0.342692, which puts the coin up 1.49% in the past twenty-four hours.
XRP Lawsuits: A Summer Timeline
- May 5th: Taylor-Copeland law files a class action suit against Ripple Labs;
- June 5th: Robbins Arroyo files a class action suit against Ripple Labs;
- June 11th: Vladi Zakinov files a suit against Ripple Labs and CEO Brad Garlinghouse.
What do you think of the latest XRP lawsuit? Do you think Ripple Labs violated federal securities laws? Or, do you agree with Garlinghouse? That Ripple, the company, and XRP are not connected? Thus there is no need to file a suit against the company?
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