California judge rules Ripple CEO's securities fraud case will continue
2024-06-20 22:20:30
U.S. District Judge Phyllis Hamilton for the Northern District of California has ruled that a securities lawsuit facing Ripple Inc. will continue to be heard, with one individual state law claim moving to trial despite the court's dismissal of four other class action claims. The case concerns allegations that Ripple CEO Brad Garlinghouse made "misleading statements" during a public interview in 2017. The court's ruling contrasts with the South New York District Court ruling, demonstrating different views on the legal definition of XRP in the crypto market. Ripple's legal team said it will continue to defend it, emphasizing that Judge Torres' ruling in the SEC case remains valid.
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