Ripple Labs Inc. was hit by a third class action securities fraud lawsuit in California seeking to classify the company’s XRP cryptocurrency as a security subject to California’s Corporations Code.

Filed on behalf of a local XRP investor on June 27 in San Mateo County Superior Court, the lawsuit comes weeks after two similar California class actions against Ripple, one on June 5 in the same county, and one on May 3 in San Francisco County that has since been moved to federal court in the Northern District of California.

This content has been archived.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]