when

Northern

Partial

<ul class="news-points">
 <li>Court dismisses four class action claims against Ripple CEO.</li>
 <li>Ripple-SEC case proceeds to trial, focusing on CEO’s statements.</li>
 <li>Judge challenges prior ruling on XRP’s non-security status.</li>
</ul>
In a surprising turn in the protracted Ripple-SEC legal battle, Judge Phyllis Hamilton of the U.S. District Court for the Northern District of California <a href="https://storage.courtlistener.com/recap/gov.uscourts.cand.334410/gov.uscourts.cand.334410.419.0.pdf" target="_blank" rel="noopener noreferrer nofollow">dismissed four class action claims</a> against CEO Brad Garlinghouse.
However, the judge partially denied the defendant’s motion for summary judgment, deciding to move the case to trial in California.
On Thursday, the judge dismissed the Ripple CEO from his four “failure to register” charges. The judge ruled in favor of Garlinghouse’s potential trial for allegedly violating securities laws by making “misleading statements” during a 2017 interview. According to the plaintiff’s arguments, Garlinghouse touted XRP as “very, very long” while selling “millions of XRP on various crypto exchanges” throughout the year.
Ripple’s regulatory challenges began in 2020 when the Securities and Exchange Commission (SEC) filed a <a href="https://www.sec.gov/news/press-release/2020-338" target="_blank" rel="noopener noreferrer nofollow">lawsuit against the exchange</a> and its key executives. The lawsuit alleged that they raised “over $1.3 billion throu…
The post <a href="https://coinedition.com/ripple-scores-partial-win-but-ceo-still-faces-legal-challenges/" rel="noopener noreferrer nofollow">Ripple Scores Partial Win, But CEO Still Faces Legal Challenges</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Ripple Scores Partial Win, But CEO Still Faces Legal Challenges

Coin Edition

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