BREAKING: Ripple class-action lawsuit rolls ahead; plaintiffs place new demand


On 8th December, Jake Chervinsky, Lawyer at Kobre & Kim LLP, tweeted about a development in the previously filed class-action lawsuit against Ripple. Here, he informed his followers that the plaintiffs claiming XRP as a security, have filed a motion to remand in federal court, asking to go back to state court. He added:

“They also say Ripple should pay their legal fees, saying the removal to federal court was “frivolous” & had “no basis in law or fact”.”

A few weeks back, the lawsuit was removed to the Federal Court as the attorneys at Ripple defended the company stating:

“Plaintiffs do not allege that they lacked information about the nature of these transactions. Nevertheless, Plaintiffs claim that they were somehow injured because the Defendants were allegedly required to register XRP as a ‘security’ with the Securities & Exchange Commission (‘SEC’) but failed to do so.”

In a series of previous tweets, Chervinsky explained in detail, the legal situation that is…



Read Full Story : AMBCrypto

2018-12-08 14:46:59

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