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.
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