Ripple Labs Inc. has been hit with another lawsuit in state court in California claiming the fintech company’s XRP digital tokens, or “Ripples,” should be registered as securities under the state’s Corporations Code.

The lawsuit, which also names Ripple subsidiary XRP II LLC and CEO Bradley Garlinghouse as defendants, claims the company has intentionally “conflated the value of XRP with its other software efforts” to pump up the value of the tokens.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]