ICO News

Ripple ICO Suit Mostly Survives Motion To Dismiss – Law360

Law360 (February 26, 2020, 9:46 PM EST) — A California federal judge said on Wednesday that an investor needed to explain more specifically why he claimed Ripple made fraudulent claims about its securities in his suit alleging the company violated the registration requirements of the Securities Act and state statutes when it ran an online initial coin offering for the cryptocurrency XRP.

In her Feb. 26 order granting in part and denying in part Ripple’s bid to end the case, U.S. District Judge Phyllis J. Hamilton cited seven examples of too-general allegations lead plaintiff Bradley Sostack included in his Aug. 5 consolidated proposed class action complaint against Ripple, a…

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