Investors filed a new lawsuit against Ripple for the release of unregistered securities and false advertising 2 октября, 2021


The group of investors filed a corrected lawsuit against Ripple, arguing that XRP tokens are unregistered securities subject to the competence of sec, and advertising its products is misleading.

The first of the series of lawsuits against the head and subsidiaries, as well as the leadership was served in May 2018. However, the latest additions oblige Ripple to respond essentially until September 19 for accusations regarding the digital asset.

In the new edition of the complaint, investors refer to the newly released SEC guide on the classification of digital investment assets. Relying on the method of analysis within the document, they define XRP as illegal unregistered securities. In parallel, the plaintiffs lead proof of the direct link of the head company with the entire product line and the impact of its activities on their success and cost.

The application also added accusation of false advertising and unfair competition. The company allegedly blurs the differences between Ripple and XRP corporate solutions to stimulate demand, buys listing on stock exchanges and limits the proposal of its digital assets to create an artificial deficit.

The plaintiffs seek recognition of the collective status of complaints, on behalf of all investors, as well as asking to compensate for the losses incurred by all ripl holders.

Earlier we reported that Facebook decided to be restred and warned investors that

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